For me, being a Small Business owner in an Industry that doesn’t have to have WSIB coverage, I found it fascinating to watch and listen to J.S. talk about how WSIB is going through a “Rate Framework” transition.
It seems that currently, there are over a thousand different categories that a business could be lumped into and then different levels within that assigned category from which your Annual Rate Renewal will be determined. And, to make matters worse, you have no idea if you will get a refund because they over-charged you or if you owe them money because they “undercharged” you.
It all sounded so complicated…and that is why WSIB will be implementing a brand new Rate Framework in a couple of years. J.S. is going around the province giving these Update Presentations and welcoming feedback, so they get it right and most folks are happy, unlike the last WSIB Rate Framework rollout 30 years ago.
The Rate Framework change sounds so much like Group Insurance rating it’s scary…rating is going to depend on credibility, weighting, and experience. Very simple and straightforward.
If you need help with understanding the WSIB rating or, perhaps more importantly, how to manage WSIB claims, give Anna Aceto-Guerin of Clear Path Employer Services a call…tell her that Jay Sharkey referred you. 🙂
Located in Cambridge, ON Sharkey Group Insurance provides independent Employee Benefits advice & counsel for Small Businesses across Ontario.