WSIB Rate Framework Reform – Analysis for Rate Groups 711 & 732
Published on: 16/07/2015
The WSIB is continuing to work through it Rate Framework Reform (RFR) exercise, with the intention of overhauling how it collects premium rates from employers in the province. As part of this process, they have produced documents for each individual Rate Group as presently constituted that details some of the expected financial impacts as a result of this system reform.
Attached to this bulletin are the produced materials for Rate Group's 711 (Road Building and Excavating) and 732 (Heavy Civil Construction), which are the most commonly utilized rate classifications in the sewer and watermain construction sector. These Rate Groups also form the majority make-up of the newly proposed Class G2 – Infrastructure Construction.
The documents note what rates for the new Infrastructure Construction class may look like and show where each Rate Group would sit within the new risk band rates. Additionally, a number of examples are provided for how claims costs would affect a company under the new rate system being proposed.
If you have any questions or concerns with the information included in the attached analyses, please contact Patrick McManus (905-629-7766 ext. 222 or firstname.lastname@example.org).
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