EDMONTON, Alta. – Alberta fleet owners will have to reach a little further into their pockets to shell out an additional 30 per cent in Workers’ Compensation Board (WCB) premiums.

With rates increasing from $1.32 per $100 paid to about $1.70, it will represent one of the sharpest increases in history.

Although she was tight-lipped about the exact amount, WCB president Mary Cameron did confirm a “substantial premium increase” is on the way. She blames the booming oil and gas sector for the rise.

“There’s a wonderful advantage in having a strong economy, but with it comes a challenge,” Cameron tells local media. “For example, when Alberta companies try to find workers, they often can’t find somebody with the experience or skill level required, so they find younger workers.”

She points out that Alberta has the youngest workforce in the country, and young workers are more likely to have accidents. Last year, lost-time accidents increased for the first time in recent history.