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ARTICLE · 05 JULY 2018

WSIB Rate Framework Policies Finalized

Hicks Morley Hamilton Stewart Storie LLP
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The Rate Framework will fundamentally change the way the WSIB classifies Schedule 1 employers and sets their premium rates.

CanadaEmployment and HR
Hossein Moghtaderi
Hossein Moghtaderi
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The Workplace Safety and Insurance Board (WSIB) has finalized the following core policies which will support the new Rate Framework, to be implemented on January 1, 2020:

Coverage Status
The Classification Structure
Single or Multiple Premium Rates
Associated Employers
Employer Level Premium Rate Setting
Employer Premium Adjustment

As previously reported, the WSIB held public consultations from August 14, 2017 to January 15, 2018 with a view to receiving stakeholder feedback on the Rate Framework draft policies, which were originally approved by the WSIB Board of Directors on November 14, 2016. When they become effective, these core policies will replace the current policies regarding classification, rate setting and retroactive experience rating, among others.

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