‹‹ Archives February 2010 - Issue 235
WSIB Releases 2010 Premium Rates
The WSIB released the 2010 preliminary premium rates for all Schedule 1 employers. From the WSIB list of preliminary rates, it appears the preliminary average rate for 2010 is expected to be $3.21 per $100 of payroll.

Of the 154 rate groups, 104 rate groups, or 68%, can expect to see no change in their base premium rate from 2009. According to the WSIB, this will apply to approximately 80-85% of Ontario employers – more than 200,000 firms.

The remaining 50 rate groups, or 32%, will see an increase in their base rate. Rate increases are expected to affect approximately 36,000 firms who are in rate groups that the WSIB considers having the greatest financial impact on the system.

Among the groups with the highest rate increases are:

  • RG 036 “Veneers, Plywood and Wood Preservation”: 8.5%
  • RG 338 “Folding Cartons”: 10.1%
  • RG 428 “Motor Vehicle Fabric Accessories”: 9.6%
  • RG 514 “Pharmaceuticals and Medicines”: 9.6%
  • RG 517 “Soap and Toiletries”: 9.2%
  • RG 685 “Metal Products, Wholesale”: 9.9%
  • RG 838 “Natural Gas Distribution”: 5.6%
  • RG 944 “Personal Services”: 5.3% and
  • RG 983 “Communications Industries”: 10.0%.
No rate groups will receive a decrease in their rate.

Additionally, the WSIB maximum insurable earnings ceiling for 2010 will increase by an additional $3,000 to $77,600 from the current 2009 maximum of $74,600.

In releasing the 2010 preliminary rates, the WSIB is mindful of the significant increase in its 2008 unfunded liability, which is now reported to be $11.4 billion, and in this regard warning employers that it will need to consider premium rate increases in the future for all employers if the WSIB’s economic situation does not improve.

More information on the WSIB 2010 premium rate can be
found at:
http://www.wsib.on.ca/wsib/wsibsite.nsf/public/
premiumratespreliminary2010



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