The WSIB has just released 7 draft policies in support of the Rate Framework Modernization. The WSIB will accept submissions on the draft policies until October 13, 2017. The policies are available on the WSIB’s Rate Framework Consultation webpage.
The new Rate Framework is scheduled to come into effect on January 1, 2020, and will make major changes to how the WSIB classifies employers and calculates premiums. The draft policies flesh out some of the significant changes that will result from the Rate Framework and provide guidelines on how the WSIB will do classification and determine if a company can have multiple rate groups. These are extremely important and complex draft policies. The OEA is offering a webinar on September 26, 2017 at 10:00 a.m. discussing the policies to provide a high level overview.
Michael Zacks, Director (A) and General Counsel