How premiums are set

As an employer, the premiums you pay help fund the workers' compensation system, protecting you and your workers against the impacts of workplace accidents and injuries. The premium rate setting process promotes fairness and accountability—today's employers pay the full cost of today's claims, securing future benefits for injured workers.

The premium rate you pay is affected by:

  • your claims experience,
  • your industry performance and
  • historical data and trends.

WCB's minimum premium is $200. This covers the costs to administer a WCB account and contributes towards covering employer claims costs.

Industry classifications

You're assigned an industry based on the business you conduct rather than by your employees' occupations. Look up your industry and your premium rate.

Rate setting

Your premium rate is the cost of coverage per $100 of insurable earnings and is based on the claims experience of your rate group. Your rate group is made up of industries with employers that have similar businesses activities as you.