Insights

10 Things to Check on Your 2020 WCB Premium Rate Statement

Posted in: Claims Costs,WCB Law,WCB Premium Reduction | Posted by Rebecca Ingram on December 10, 2019

In case you missed it, your 2020 WCB Premium Rate Statements have been issued. This statement not only advises you of the WCB Premium rate you have been assessed for the coming year but also provides you with the information used to calculate your rate. According to current information, WCB 2020 premium rates in British Columbia, Manitoba and Saskatchewan will remain the same or drop from the 2019 levels, while Alberta will see a slight increase. The rate-setting process is complex and even the smallest change in the data used can have a significant impact on the amount of premiums you pay. Therefore, it is important to consider the following questions while reviewing your statement: Is your Company name/address correct? Have your operations or business changed? Are you classified in the most appropriate Industry? Has your Industry Code changed? Are you being assessed a surcharge? For Alberta employers, are you […]

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