Saint John: The Workplace Health, Safety and Compensation Commission (WHSCC) of New Brunswick announced today that, for the third time in as many years, it has reduced its average assessment rate. Effective January 1, 2007, the average rate will drop from $2.14 per $100 of assessable payroll in 2006, to $2.10.
This rate reduction will see assessed premium amounts for 7,200 New Brunswick employers either drop or remain stable in 2007, and represents the lowest average assessment rate in Atlantic Canada.
“We’re very pleased to announce a rate decrease for the third year in a row,” said Robert M. Scott, chairperson of the WHSCC board of directors. “This is good news for all New Brunswickers. Our registered employers will be paying less for their compensation premiums, thereby reducing their cost of doing business. But, more importantly, because accident costs play the largest part in determining assessment rates, it means that New Brunswick’s workplace safety continues to improve,” Scott said.
The board of directors’ continued prudent management of the WHSCC’s finances has also played a major role in reducing the assessment rates. And because the board is in a fully-funded position, the benefits promised to injured workers are secure going into the future.
“The outcome is not only reduced compensation insurance premiums for the province’s employers, but increased benefits for injured workers, and, overall, healthier and safer workplaces,” Scott said.