Despite Initial Speculation, No Increase in WSIB Rates
TORONTO — Good news for Ontario truckers as the Workplace Safety and Insurance Board (WSIB) has announced that there will be no Premium Rate increases for 2014.
Last year, WSIB announced a 2.5 percent rate increase on average S1 premium increases. Initial speculation was that there would be another increase for 2014 rates, the Ontario Trucking Association (OTA) said.
The OTA has been consulting with WSIB regarding Premium Rates, as well as the ongoing issue of the Rate Framework Review. According to the OTA, “it appears that the WSIB has made progress on meeting its targets and has been able to add an additional $2.4 billion to the system from 2010 – 2013,” the OTA said in a statement.
The OTA said that they have been reminding WSIB officials that cost controls and other measures need to be explored before raising rates. Discussions regarding how WSIB sets its rates are still ongoing.
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