WSIB freezes 20 years of low insurance premiums for Ontario businesses

Ontario business workplace insurance premiums will remain at their lowest level in 20 years, even after the Workplace Safety Insurance Board (WSIB) announced a premium freeze for 2023. This means that the average premium rate stays at $1.30 for every $100 of insured salary.

WSIB president and CEO Jeffery Lang said the WSIB knows Ontario businesses are still feeling the pain caused by the pandemic.

“We are committed to helping Ontario businesses recover from the pandemic while improving outcomes to ensure that injured people return to work safely, timely and lastingly. “We are very proud to be able to keep premium rates at their lowest level in 20 years.”