What is a WCB Clearance Letter and Why Do I Need One?
Whether you are an individual contractor or a business, whether you are looking to hire or looking to be hired, ensuring that proper workers compensation (WCB) coverage is in place is essential. Regardless of which side of the transaction you are on, there are benefits to having a WCB Clearance Letter. What is a WCB Clearance Letter? A WCB clearance letter is a document issued by a Workers’ Compensation Board (WCB) that confirms a contractor or business is in good standing with its workers’ compensation premiums and coverage. It demonstrates that the company has an active workers’ compensation account, has paid the necessary premiums, and complies with local workers’ compensation regulations. A clearance letter also identifies who is covered and the industry they are covered in. Why You Need a WCB Clearance Letter: For contractors, subcontractors and businesses looking to be hired: Proof of Compliance: It shows that your company […]
What is Partnership in Injury Reduction (PIR) and How to Get Involved
The Time is Now! Register in WCB Alberta’s Partnerships in Injury Reduction (PIR) by December 31, 2024 and 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 […]
Leveraging WCB Resources: Empowering Employers for Enhanced Workplace Safety
Across Canada, employers have a valuable ally in their quest for workplace safety: their provincial and territorial workers’ compensation board (WCB). Beyond its role in administering compensation claims, provincial WCBs offer a wealth of resources aimed at fostering a culture of safety and minimizing workplace incidents. From informative workshops to practical online tools, the WCB equips employers with the knowledge and tools necessary to navigate safety requirements effectively while mitigating claims costs. For the purposes of this article, we will be focusing on the Alberta WCB but many of the resources and services are offered by workers’ compensation boards across Canada. You can find links to their websites below. Workshops and Seminars: Engaging with WCB workshops and seminars is akin to attending masterclasses in workplace safety. These sessions are tailored to address specific industry challenges, providing invaluable insights into risk assessment, hazard mitigation, and regulatory compliance. Covering topics on everything […]
The Strategic Role of Employer Participation in WCB Sponsored Programs
It’s Not Too Late! Register in WCB Alberta’s Partnerships in Injury Reduction (PIR) by December 31, 2023 and still be eligible for PIR discounts for 2023 and 2024 In an effort to encourage employers to actively engage in creating safer work environments, Workers’ Compensation Boards (WCBs) often offer programs aimed at reducing occupational injuries and promoting workplace safety. Taking advantage of these programs can be a proactive approach to managing or reducing WCB premiums. Programs may differ in other provinces and jurisdictions but in Alberta, there are three notable initiatives: Partnerships In Injury Reduction (PIR), Certificate of Recognition (COR), and Occupational Injury Service (OIS). Partnerships In Injury Reduction (PIR): PIR is a collaborative initiative between employers, workers, and the WCB. The program encourages the development and implementation of effective health and safety management systems. Employers involved in PIR commit to continuous improvement, employee training, and the establishment of a safety […]
The Crucial Link Between Reporting Payroll Information and WCB Premiums
The Crucial Link Between Reporting Payroll Information and WCB Premiums When it comes to running a business, one of the most critical tasks is reporting payroll information accurately and on time. Workers’ compensation boards across Canada require employers to report their payroll information annually. The information is used to calculate their WCB premiums. Here’s why it’s important and how it can impact your WCB premiums. WCB Compliance: First and foremost, reporting payroll information is a WCB obligation. Failing to do so or failing to report payroll information accurately can result in penalties, fines, and WCB premium reassessments for your organization. Fair Premium Assessment: WCB premiums are calculated based on your reported payroll information. Accurate reporting ensures that you pay the right amount of premiums. Underreporting payroll can lead to lower premiums, but situations like a workplace accident could trigger an audit that may result in reassessment and financial penalties. On […]