Human Resources Legislative Update
WSIB Announces 2018 Premium Rates
Date: September 22, 2017
The Workplace Safety and Insurance Board has announced its 2018 premium rates and has approved a 3.3% reduction to the average premium rate for next year.
Any increases in premium rates will relate only to costs arising from the chronic mental stress (CMS) amendment to the Workplace Safety and Insurance Act, 1997, which comes into force on January 1, 2018, and will be capped at 5%.
To learn more about the CMS amendment, see our FTR Now of May 29, 2017 Workplace Safety and Insurance Act Amended to Allow Benefit Entitlement for Chronic Mental Stress.