Looking Ahead: Workers’ Compensation in Ontario

As 2022 starts to draw to a close, the Ontario Workplace Safety and Insurance Board (WSIB) has released some important updates for employers to note for the year ahead. 2023/2024 WSIB Employer Updates On October 20, 2022, the WSIB announced that the average premium rate for Ontario businesses in 2023 will remain steady at $1.30 … Continued

WSIB Announces $1.5 Billion Surplus Rebate and Information on the Excellence Program Rebates

Surplus Rebate On the heels of yet another wave of the pandemic, businesses continue to feel the financial impact of COVID-19. However, a welcome announcement has come from the Workplace Safety and Insurance Board (WSIB), advising that $1.5 billion in rebates are being returned to eligible safe Schedule 1 businesses in Ontario. Recent legislative changes … Continued

The Ontario WSIB Funding Model: Where Are We Today

The dust is settling on the impact of the changes to the funding scheme of the WSIB, which came into effect on January 1, 2020. Over ten years ago, the need to revamp the financial system was ignited as the significant unfunded liability reached the “tipping point” of collapse. The debt obligations reached zero before … Continued