WCB Premium Rate: What Can YOU Do About Rising Costs?
Why Are My Premiums So High?
First, premiums are paid into each employer’s insurance against worker injury, illness, or litigation. No matter what business you have in Saskatchewan, you are grouped by the Worker’s Compensation Board (WCB) into one of fifty industry rate codes based on your primary business activity. This means that the collective experience of all the employers in your industry will determine the industry premium rate, which is then applied per $100 of your annual payroll. The industry premium rate is then adjusted by your individual claims experience, resulting in either a discount or surcharge position, and reapplied per $100 of payroll.
Check out YOUR industry premium breakdown here:
➡️ 2025 Industry Rate Sheet – S21 Community & Social Services
➡️ 2025 Industry Rate Sheet – S22 Restaurants, Catering & Dry Cleaning
➡️ 2025 Industry Rate Sheet – S23 Hotels, Motels & Taxis
How are Injuries Affecting My Business?
The first key is to prevent them! However, if an injury occurs and reaches a time loss compensation period of 50 days, WCB classifies the injury as serious, impacting your claims experience. For this reason, it is imperative to have an efficient plan to manage the injury through accommodations that allow your employees to stay connected to the workplace.
Injuries can be scary and frustrating for all parties, but the long-term impacts of having a transparent and effective claims management plan can include:
- Improving your experience rating as well as raising industry standards
- Increase the overall productivity of the workplace through modified duties to ensure the worker remains connected to the workplace
- Reducing confusion and frustration of the workers, thereby supporting their psychological health before and after an incident
- Enhancing the safety culture signals employees that the company is committed to their well-being, boosting employee satisfaction and retention.
➡️Get your Brown Envelope Contents here
What’s Included:
- W1: Worker’s Report of Injury
- Fitness for Modified Work Form
- Modified Work Policy/Procedure
What Can Service Hospitality Do to Help?
We can help you take steps to prevent injury, but if one occurs, don’t worry. Our safety advisors can help you navigate it efficiently and effectively! Our consulting services include:
- Claims Management Procedure Development
- Guidance on Regulatory Compliance
- Training and Support
- Continuous Improvement & Data Analysis
We also offer templates, reference examples, and resources like our Incident Cost Calculator!
➡️Start your Claims Management Journey TODAY!
