Human Resources Legislative Update
Ontario Government Announces 2024 WSIB Premium Rate
Date: November 1, 2023
On October 31, 2023, the Ontario government announced the average premium rate businesses pay to the Workplace Safety and Insurance Board (WSIB) will remain at $1.30 per $100 of insurable payroll for 2024. The WSIB provides wage-loss benefits and medical coverage to Ontario employees and is completely funded by employer premiums.
Premium rates for employers are established in accordance with requirements set out in the Workplace Safety and Insurance Act, 1997.
Ontario businesses can now access their individual 2024 premium rate statements on the WSIB’s website.
If you have any questions about this announcement, please contact your regular Hicks Morley lawyer.
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