Time to register for WCB Alberta’s Partnership in Injury Reduction program
Annual Experience Rating statements will be released soon for employers across Canada, so it’s a good time to review some of the ways in which you can reduce your future WCB premium rates. Obviously, one way is to not have as many claims, since your WCB claims from the three preceding years are used to calculate your premium rate. So for next year (2026) the number and costs associated with the claims you had in 2022, 2023 and 2024 will determine what you pay in terms of a premium rate. There is one additional way in which Alberta employers can reduce their premium rate, and that is to take part in the WCB’s Partnership in Injury Reduction program. In order to do so, you have to register no later than December 31, 2025. The benefit can be significant: If you qualify, you can get a refund of up to 20 […]
Things to consider before voting for the WCB’s Industry Custom Pricing
A number of industries in Alberta will be voting on Monday, September 15th on whether to join a program the Workers’ Compensation Board calls Industry Custom Pricing or ICP. The WCB describes it as “an optional program that empowers industries to customize various features of their pricing program, giving them greater control over the premiums they pay.” In effect, the ICP program offers industry members lower premium costs in return for giving up the option for cost relief in certain cases (the Cost Relief Option), or for allowing the WCB to modify the rate-setting calculations for that industry (the Experience Rating Option). There’s a good BCL overview of this program with more background and some common questions here. In a nutshell, all the members of a given industry group get to vote on whether to become part of the ICP program, and if companies that represent more than 50% of […]
Start 2025 off right by reviewing your approach to worker injuries
As we begin a new year, it’s worth taking some time to review your approach to workplace injuries. It goes without saying that the best way to keep your workers’ compensation premiums as low as possible is to simply have no claims, but the reality is that accidents do sometimes happen, and claims are often unavoidable. As a company, it’s in your interest to both monitor and manage those claims, since doing so will help mitigate the costs that directly impact your bottom line. The best approach is to have in place a robust system for this purpose, which not only reflects and fosters a culture of safety within your company, but can also help to control those unforeseen costs. Here are some of the key components of such a system: Prompt Reporting of Injuries The first line of defence in managing workers’ compensation costs is prompt reporting of injuries. […]
10 Things to Check on Your 2025 WCB Premium Rate Statement
It’s that time of year again! 2025 WCB Premium Rate Statements will be issued shortly! Your premium rate statement not only advises you of the premium rate you have been assessed for the coming year but also provides you with the information used to calculate your rate. According to current information, WCB 2025 premium rates in British Columbia and Saskatchewan will remain the same as 2024 levels, while Alberta will see a slight increase as part of their multi-year plan to realign premiums and claim costs. Manitoba has not announced their 2025 premium rate yet. The rate-setting process is complex and even the smallest change in the data used can have a significant impact on the amount of premiums you pay. Therefore, it is important to check the following when reviewing your 2025 statement: Is your Company name/address correct? Have your operations or business changed? Are you classified in the […]
What is Partnership in Injury Reduction (PIR) and How to Get Involved
The Time is Now! Register for WCB Alberta’s Partnerships in Injury Reduction (PIR) by December 31, 2024 to be eligible for PIR refunds for 2024 and 2025 The annual Experience Rating statements will be issued in only a couple of months, so now is a good time for employers to look at ways to maintain or improve their WCB premium rate. In Alberta, your claims experience from the past three years is used to establish your premium rate for the coming year – in other words, your WCB claims from 2021, 2022 and 2023 will be used to determine your premium rate for 2025. Although you can not change past performance, what you do from this point forward can have a significant impact on your WCB premium rates in the future. What Is PIR and How to Get Involved: One way that Alberta employers can realize WCB premium reductions […]