In order to offset its funding deficit, the WSIB has announced a premium rate incrase of 2% for 2011, which will in effect lead to double digit increases for a number of business sectors.
The OCC agrees action is needed to secure the stability of the WSIB’s financing model. However, given that employer premiums in Ontario are already higher than in any other province, we question the need for a premium increase at this time. The OCC urges the WSIB to delay any decision relating to premium increases, until its recently announced Funding Review is completed by the end of 2011.
