COVID-19 claims costs and your 2024 insurance premiums
WorkSafeBC has received a number of inquiries on how COVID-19 claims costs are treated when setting premium rates.
We have excluded COVID-19 claims costs in the calculation of the expected new injury costs for 2024 and experience rating for employers. This approach recognizes the negative impact that the COVID-19 pandemic has had on employers. However, direct COVID-19 claims costs have been reflected in the rate group balances, and are generally amortized over a period of five years, as adjustments to the rate groups’ future premium rates.