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British Columbia comp rates expected to drop

Gloria Gonzalez

August 10, 2005 Reprints

Workers Comp Coverage Canada More + Less -

RICHMOND, British ColumbiaThe Workers Compensation Board of British Columbia is projecting a 3.5% decrease in average premiums for 2006.

The WCB posted a preliminary average 2006 rate of $1.90 per $100 of insurable earnings, compared with $1.97 in 2005. This follows a 4.1% decrease in workers comp rates in the province this year.

The reduction reflects stable injury rates, lower duration of injuries and the success of the WorkSafeBC initiativea joint effort by employers, workers and board officials to prevent injuries, diseases and fatalitiesaccording to board officials.

Overall, approximately 60% of employers in British Columbia will have no change or a reduction in their 2006 premium rate, while 40% of employers will experience a rate increase.

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British Columbia comp rates expected to drop

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