September 26, 2019
TORONTO, Ont. – The Ontario Trucking Association says the streamlined framework for premiums announced by the Workplace Safety and Insurance Board will not be applicable to all carriers universally.
The provincial agency said Wednesday that the trucking industry will be classified under the new F1 category, along with railways, water and postal service, as of 2020.
For this category, the premium will go down by 12.5% from $4.88 to $4.27. That will be the amount charged on every $100 of insurable payroll.
The association said Thursday it is important to remember that $4.27 is the class average.
“This means carriers will likely find their own individual rate either above or below this average.”
What each specific carrier’s rate will be based on their actual performance at a company level and not the rate group’s performance as was the case in the past, it said.
“In essence, starting in 2020, carriers within the trucking industry could have widely different rates based on their own actual performance when it comes to health and safety.”
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