TORONTO — Ontario business owners will receive a reduction on their WSIB rates. Announced at the WSIB’s annual general meeting this week, the rates will be reduced by an average of 29.8 per cent for 2019.
The insurance bureau also announced its “Unfunded Liability” has been eliminated almost 10 years ahead of schedule.
Thrilled that the industry will see a reduction for the third year in a row, Tony Elenis, president and CEO of the Ontario Restaurant Hotel & Motel Association (ORHMA), says that hospitality operators and business owners now “have the confidence to reintroduce advantages in areas such as additional safety initiatives to employees.”
“ORHMA is very pleased and supportive of the WSIB rate reductions of 29.8 per cent for hotels and motels and 31.6 per cent for restaurants and caters,” says Elenis, adding that the ORHMA believes the unfunded liability is a “positive turning point to ensure that Ontario’s hospitality businesses’ workplace-health-and-safety system is in great shape.”