The average premium rate businesses pay to Ontario’s Workplace Safety and Insurance Board (WSIB) will remain steady in 2024.
The WSIB’s average premium rate for businesses will stay at $1.30 for every $100 of insurance payroll, according to a news release.
In addition to holding premium rates steady, the WSIB is also extending incentives for small businesses enrolled in its Health and Safety Excellence program. Smaller businesses can now benefit from double rebates for every topic completed and an additional $1,000 toward implementing a health and safety program through Dec. 31, 2024.
“Under the leadership of Premier [Doug] Ford, the WSIB has cut the average premium rate for safe employers in half, allowing more businesses to reinvest in the economy and their workers,” said David Piccini, minister of labor, immigration, training and skills development.
“We were able to hold the line on premium rates in 2024 and will continue to improve our services and results,” said Jeff Lang, president and CEO of the WSIB. “We are also continuing with incentives to small businesses to reduce injuries from happening in the first place.”
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