Industry Assessment Rate
The WCB applies the principle of collective liability - one of the
Meredith Principles - in calculating the
premiums paid by employers. This means employers in each industry class and industry code support each other by paying the same rate of
assessment, which is calculated by the WCB to cover current and estimated future costs of injuries in their specific industry occurring that
year, plus administration costs. The premium amount is established by multiplying the industry assessment rate per $100 of gross payroll.
View
2008 Premium Rates.
Annual Assessments
The WCB sends out provisional assessments to employers at the beginning of each year based on their estimated payroll costs. These assessments are
usually payable in two installments: April 1 and September 1. Adjustments are made at the end of the year, based on actual payroll costs.
Premiums & Rate Setting