2024 premium rates
WorkSafeBC announces that the average base premium rate for 2024 is 1.55 percent of employers' assessable payroll, which has been maintained at the same level since 2018. Our strong financial results have enabled us to keep the average rate flat for 2024.
Together with worker and employer stakeholders, we're working to reduce serious injuries and enhance return-to-work opportunities. In doing this, we can collectively help to prevent injuries, improve return-to-work outcomes, and ultimately lower insurance rates.
- Find your rate
- How the rates are set
- Resources
- See also
COVID-19 claims costs and your insurance rate
Learn more about the approach taken by WorkSafeBC to recognize the negative impact that COVID-19 claims costs may have had on employers.
Find your rate
Our classification unit, industry, and rate search engine contains information on the premium rates for 2024, as well as information from previous years.
Find my classification unit, industry, or rate
You can learn more about changes to our classification structure by downloading changes to classification units for 2024.
How the rates are set
The Workers Compensation Act requires WorkSafeBC to set premium rates annually for employers in order to pay for the workers’ compensation system.
Employers are placed in one of 515 classification units with other similar businesses. These classification units are then placed into one of 55 insurance pools we refer to as rate groups.
Employers in each rate group pay the costs of injuries and diseases that occur to the workers within the group, with the intent that each rate group be self-sufficient with regard to compensation costs. This limits cross-subsidization between industries, maintains relatively stable insurance rates, and limits growth of unfunded liabilities in the rate groups.
Each year, costs in some rate groups go up, some go down and others stay the same. In 2024, 54 percent of employers in B.C. will experience a decrease in their industry base rate, 37 percent will see their industry base rate increase, and 9 percent will see no change.
Examples of industries with rate decreases include: Ski Hill, Short-Term Care, Convenience Store, Steep Slope Roofing, Dairy Farming, Structural Concrete Forming, General Trucking, Industrial, Commercial, Institutional or Highrise Residential Construction, Retirement Home, First Nations Operations, Sawmill, Restaurant and Pub, Bar, Nightclub or Lounge.
Examples of industries with rate increases include: Physician Professional Services, Dentistry, Marine Container Terminal, Counselling or Social Services, Community Health Support Services, Local Government, Public School District, Supermarket, Courier or Local Delivery Services, General Retail, Casino or Other Gaming Operations, Advanced Education, Public Transit, and Acute Care.
Example of industries with little to no change to their rates include: Auto Service or Repair, Autobody Shop, Beer, Wine, or Liquor Store, Fruit Farms, Dry Cleaning, Car or Truck Rental, Large Retail Store, Gas Utilities, Road Construction and Ship Building.
More information
Related links
Resources
2024 Classification and rate list
This booklet lists the base rates for all industries in British Columbia for 2024.
Changes to classification units for 2024
Each year when we set premium rates for the next year, we review the current classification structure to ensure we continue to provide fair insurance rates. This document outlines the classification...
Classification and rate setting structure changes
Each year when we set premium rates for the next year, we review the way we classify firms and industries. We are proposing to expire or move the classification units listed in this document starting...