Insights

Why Performance Matters

Posted in: WCB Premium Reduction | Posted by Rebecca Ingram on September 11, 2017

When it comes to WCB premiums, its performance – in terms of the number and severity of work-related accidents, incidents and illnesses – that has a significant impact on premium rates. Simply put, employers who have a large number of WCB claims and high WCB claims costs will pay more in WCB premiums than employers with few or no WCB claims and little or no WCB claim costs. Although the WCB provides discounts and rewards for employers with good accident records, the primary incentive to get employers with poor performance histories to make immediate improvements to their disability management and prevention programs is through monetary repercussions. The Poor Performance Surcharge (PPS), which is levied on large employers (i.e. employers who pay more than $15,000 in industry rated premiums in a 3 year period) who have consistently poor accident records over consecutive years. It is, perhaps, the most detrimental penalty assessed […]

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