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WSIB freezes premium rates for Ontario businesses

DCN-JOC News Services
WSIB freezes premium rates for Ontario businesses

TORONTO — Ontario’s Workplace Safety and Insurance Board (WSIB) announced today that premium rates for Ontario businesses will be frozen at the same levels paid in 2020. 

The announcement comes after four years of decreases that cut the average premium rate almost in half. Construction employers have seen rates drop 63 per cent on average in that time.  

“By holding premium rate levels for 2021 we are giving Ontario businesses some certainty in these uncertain times,” said Elizabeth Witmer, chair of the WSIB, in a release. “Being in a strong financial position allows us to maintain services for people who need them and hold premium rates steady.” 

Any business that deferred its premiums this spring is being given until Jan. 1, 2021 to begin repayment and will have until June 30, 2021 to complete that payment without interest or penalty. 

The WSIB has also adjusted its Health and Safety Excellence program to focus on pandemic-readiness for all businesses. By completing topics in the program through an approved provider, businesses can be eligible for premium rebates. 

“As businesses adjust to the new realities we are here to help,” said Tom Teahenpresident and CEO of the WSIB. “There is a bright spotlight on health and safety right now and we need every employer in Ontario to be focused on having strong health and safety programs in place to protect people.” 

Teahen reiterated his previously announced decision to move on from the post. No replacement has been named. 

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