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WSIB freezes rates for second straight year

TORONTO, Ont. -- Ontarios Workplace Safety Insurance Board (WSIB) has released its premium rates for 2008, keeping...

TORONTO, Ont. — Ontarios Workplace Safety Insurance Board (WSIB) has released its premium rates for 2008, keeping the average rate frozen for a second year in a row.

While the average rate increase is 0%, the trucking sector will see modest cuts in its rates for 2008, which the Ontario Trucking Association (OTA) says reflects the ongoing efforts of the industry to reduce on-the-job injuries and fatalities. The General Trucking rate (rate group 570) will be decreasing from $5.84/$100 of insurable salary to $5.70/$100, a drop of 2.4%. The Warehousing rate group will see a 1.8% cut from $2.73 to $2.68 and Courier Services will also drop by 2.4% from $2.54 to $2.48.

OTA president David Bradley welcomed the news saying, “Im extremely pleased that the WSIB has decided to continue to resist the urge to hike rates. WSIB chair Steve Mahoney deserves much of the credit for keeping the average rate frozen for another year.”

“Im even more pleased that the trucking industrys improving on-the-job safety record has been acknowledged in the form of lower rates, Bradley continued. The industry is working hard to reduce the number and severity of work related injuries, and everyone in the industry, from drivers to CEOs, deserves a lot of credit for the results that have been achieved to date.”

Bradley concluded by saying, “While the WSIB has kept rates down for 2008, OTA remains concerned that the WSIB continues to indicate that cost pressures may mean rate hikes in future years. Any increase in payroll taxes, which is really what WSIB assessments are, will have a severe impact on Ontarios economy and we will continue to lobby hard to make sure that rates will at least stay frozen, if not decreased.

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