Saskatchewan Board Reduces 2008 Rate

The Saskatchewan Workers' Compensation Board (WCB) recently announced it would reduce the 2008 average premium rate by 8.2 per cent. The announcement follows a series of meetings with employer stakeholders and is the third reduction to the average premium rate in the past four years. The 2008 rate decision means that approximately 93 per cent of the almost 34,000 employers registered with the WCB will be assessed lower premiums or see no change in premiums this year. Another 2 per cent of registered employers will see a modest increase and the remaining 5 per cent will see higher increases based on industry experience and their individual claims experience. The WCB's 2008 rate announcement includes adjustments made through the Experience Rating Program. Approximately 19,500 employers will receive $20 million in discounts in 2008 and 1300 employers will be surcharged $18 million. The rates took effect Jan. 1.