WorkSafeNB announced today a slight decrease in the average assessment rate for the fourth consecutive year. Reduced accident frequency and accident costs warranted an average rate reduction of $0.02, from $2.05 per $100 of payroll in 2008, to $2.03. The minimum assessment rate will also be reduced, from $0.40 per $100 of payroll to $0.35. The rates are effective January 1, 2009.
The rate reduction will see assessed premium amounts for approximately 7,300 employers either drop or remain stable in 2009, and represents the lowest average assessment rate in Atlantic Canada.
"This is good news for all New Brunswickers. By paying less for their compensation premiums, our registered employers will reduce 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," said Roberta Dugas, chair of WorkSafeNB’s board of directors.