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Alberta workers comp premiums to fall 7.5%

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EDMONTON, Alberta—Employer premiums for workers compensation insurance in Alberta are expected to decline for the third year in a row, according to the Workers' Compensation Board of Alberta.

Continued success in reducing claims and returning injured workers to work, combined with a significant increase in the program's operating surplus, will contribute to an expected 7.5% drop in employer premiums next year, board officials said.

Alberta, which already has the lowest premiums for workers comp coverage in Canada at $1.57 Canadian per $100 Canadian of insurable earnings ($1.40 per $89.09), has seen its premiums fall by more than 20% over the past two years as the province's success in lowering claims costs enabled it to eliminate its deficit. The program now has an operating surplus of $585.6 million Canadian ($521.7 million), more than double the surplus level reported in its 2004 annual report.

Final premium figures for 2007 will be announced later this year.