WSIB eliminates unfunded liability, announces new premium rates

The Workplace Safety and Insurance Board (WSIB) has eliminated its unfunded liability (UFL) almost 10 years ahead of its legislated schedule. The elimination of the UFL has allowed the WSIB to provide Schedule 1 businesses an average premium rate reduction of 29.8 per cent for 2019. These changes were announced at the WSIB’s Annual General Meeting on September 26. To learn more about the UFL and 2019 rate changes, visit the WSIB website www.wsib.on.ca/WSIBPortal