The Ontario government has announced that average insurance premium rates, paid by businesses to the Workplace Safety and Insurance Board (WSIB), will remain unchanged in 2024. This decision aims to aid businesses grappling with rising inflation, maintaining low rates to encourage job growth and higher wages.
The WSIB has already reduced average premium rates by half for safe employers. Furthermore, smaller businesses in the Health and Safety Excellence program will benefit from extended incentives until December 31, 2024, including double rebates for each program topic completed and an additional $1,000 for implementing health and safety measures.
For more information about the Government of Ontario’s actions on the WSIB Premium Rates, please visit the following link.
Please also feel free to email Alexander Miceli, Manager of Policy and Government Affairs, at amiceli@tiaontario.ca if you have any questions.