July 16: WCB Approves New Employer Classification Structure

The WCB approved a new Employer Classification Structure that’s designed to provide fair rates based on industry risk and cost. The new classification model will provide flexibility for industry groups to move to a rate group with a lower rate if they’ve demonstrated a cost experience decrease and similarly industry groups can move to a rate group with a higher rate if the industry has demonstrated a cost experience increase. The new structure will become effective for the 2011 rates.