NEER

What is NEER?

The New Experimental Experience Rating (NEER) Program automatically applies to firms that:

• Have total yearly permiums of $25,000 or more and
• Operate in at least one non-construction rate group.

NEER is a rate-group based program, so if your firm does business in multiple non-construction rate groups then you will see a NEER calculation for each one.

In the NEER program, your firm can earn either lump sum refunds or surcharges based on your individual accident performance. For example, if you have a good accident cost record in a particular rate group, then your firm will be refunded a portion of the premium paid for that rate group.

Program details

The NEER program compares the “expected cost” of claims for your firm to the actual “NEER cost,” which is made up of:

• The total benefits paid to date,
• The projected future cost of claims over their expected lifetime , and
• An administrative cost.

Click here for information on our WSIB NEER workshops or to receive a complimentary NEER review from one of our experts!