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WorkSafeBC announces lower premium rates for 2006
Richmond B.C., October 19, 2005 — WorkSafeBC (the Workers' Compensation Board) has announced a 3.6 percent decrease in the overall premium rate for employers for 2006. The reduction reflects recent years’ trends of stable injury rates and lower duration of injuries. Rates for B.C. employers are among the lowest in Canada.
The 2006 aggregate base rate will be $1.90 per $100 of assessable payroll, compared to $1.97 in 2005. “This is good news for most employers,” said Sid Fattedad, Chief Financial Officer for WorkSafeBC. “However, we’re seeing economic growth in B.C. and that means more jobs and potentially more workplace injuries. It will require the shared commitment of employers, workers, and WorkSafeBC to counter an upward pressure on the injury rate.”
To date, a focus on prevention has paid off. “By engaging in safety training, and effective disability management and return to work efforts, B.C.’s workers and employers have helped to keep injury and premium rates stable,” said Fattedad.
WorkSafeBC continues to assist by working with industry to establish safety associations in forestry, construction, agriculture, health care, the performing arts, and the oil and gas industries, and developing sector-based business teams to work closely with industry and labour groups.
In 2006, hospitals, long term care and short term care facilities, wharf, marine terminal, and stevedoring operations will all see a 30 percent reduction in their rates. Shipbuilding, universities, electric utilities, supermarkets, and industrial construction and trades will also have lower base rates.
Industries whose rates will increase include general retail, public school districts, general trucking (not including dump truck operators), department stores, telecommunication services, and gas utilities.
Overall, approximately 55 percent of employers will have a reduction in their 2006 premium rate and 40 percent of employers’ rates will experience an increase.
Information on 2006 rates is available on the WorkSafeBC web site at www.worksafebc.com.
Serving nearly two million workers and about 179,000 employers, WorkSafeBC (the Workers' Compensation Board) is a provincial statutory agency governed by a Board of Directors and funded by employers. WorkSafeBC was born out of a compromise between B.C.’s workers and employers in 1917 where workers gave up the right to sue their employers or fellow workers for injuries on the job in return for a no-fault insurance program fully paid for by employers. WorkSafeBC is committed to a safe and healthy workplace and to providing return-to-work rehabilitation and legislated compensation benefits to workers injured as a result of their employment.
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For more information please contact: |
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Donna Freeman |
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