TORONTO — The Workplace Safety and Insurance Board (WSIB) is holding the average premium rate for Ontario businesses for 2023 at $1.30 for every $100 of insurable payroll.
Offering the lowest average premium rate in 20 years builds on the support the WSIB has provided during the pandemic, including the first-ever surplus rebate for safe businesses, which resulted in more than $1.2 billion injected back into Ontario’s economy.
In 2023, the WSIB is also offering smaller businesses enrolled in the Health and Safety Excellence program double their rebates for every topic completed, plus $1,000 toward implementing their health and safety plan.
“We are doing our part to support Ontario businesses as they recover from the pandemic while improving outcomes for people who have been injured to have a safe, timely and lasting return to work. I am very proud that we are able to hold premium rates to a 20-year low,” says Jeffery Lang, president & CEO of the WSIB. “Some businesses could earn back their entire premium payment if they invest in health and safety improvements in the workplace. This is the biggest financial incentive we’ve ever had and I hope a lot of small businesses take us up on this offer.”
Ontario businesses will be able to access their individual 2023 premium rate statements on the WSIB’s website starting Nov. 1, 2022 with paper copies mailed later in the month.