WSIB Rate Framework Restructuring
Upcoming SessionsThere are currently no upcoming sessions scheduled for this course
The course duration is approximately 90
OCA Members: $0
The WSIB has initiated a review of its Employer Classification, Premium Rate Setting and Experience Rating systems.
As part of this review, the WSIB has developed a proposed preliminary Rate Framework. This proposed model takes into consideration the recommendations of the Stanley report, Pricing Fairness (PDF), and the WSIB's subsequent analysis. Full details may be found on the WSIB website
The key features of the proposed changes are as follows:
- A move to the North American Industry Classification System (NAICS)
- Multiple rate groups (except for temporary employment agencies) will not be allowed.
- Long latency disease costs will continue to be assigned to the class level.
- It is proposed to eliminate SIEF
- CAD-7, NEER and MAP to be replaced by a prospective rate setting approach that factors experience.
Deadline for public input is October 2, 2015 and this information session will provide attendees detailed overview of the proposals and time for open discussion so as to enable any employer to offer input to the public consultation.
OCA featured an article on the WSIB rate framework plan in its June issue which can be downloaded at this LINK.