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premium rate reduction

WSIB premiums decrease for first time in 15 years

Ontario’s Workplace Safety & Insurance Board made headlines this month by announcing that employer premiums would decrease an average of 5% in 2017, the first such decrease in over 15 years. This will result in approximately $250 million less being collected from employers, making the average premium rate $2.46 per $100 of insurable payroll, down from $2.59 in 2016.

 

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