October 7, 2021

Ontario’s Workplace Safety and Insurance Board (WSIB) has announced that is cutting premium rates in 2022, resuming the rate-setting model that had been delayed in response to the impact on businesses of the COVID-19 pandemic.

The average premium rate for businesses will be reduced by 5.1 per cent for 2022, representing a premium decrease from a Schedule 1 average rate of $1.37 on every $100 of insurable payroll in 2020 and 2021, to an average of $1.30 in 2022.

Businesses eligible for a reduction will continue to see decreases to their premium rate and businesses with projected increases due to their individual and/or class risk and experience will now move up to a maximum of one risk band, which is approximately five per cent, towards their projected rate.

The changes will be introduced in a transition process. Any projected increases due to your individual and/or class risk and experience will be applied as follows:

• In 2022, businesses with a projected premium rate increase will move up a maximum of one risk band (approximately five per cent) from their 2021 rate
• In 2023, businesses with a projected premium rate increase will move up a maximum of two risk bands (approximately 10 per cent) from their 2022 rate

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Starting in 2024, policies for premium rate setting under the new model will be fully in effect. Businesses with projected premium rate increases or decreases will see their rates move up or down a maximum of three risk bands (approximately 15 per cent per year), until they reach their projected premium rate. NOTE: The transition approach does not apply to temporary employment agencies or non-profit organizations. 

The maximum insurable earnings ceiling for 2022 is $100,422, compared to $97,308 in 2021. Changes to the maximum insurable earnings ceiling are based on amendments made to the Workplace Safety and Insurance Act in 2021, which gave the Ontario government regulation-making authority to set the maximum insurable earnings ceiling for 2022.

Full details, including information on reading your 2022 statement and a chart of 2022 Class Rates, can be found on the WSIB website page: 2022 premium rates

I hope you find this information helpful. Please contact me with any questions you may have or for assistance working through your employment and labour law matters.