Marginal decrease in 2012 rate

REGINA — Employers in Saskatchewan will see the average premium rate decrease slightly in 2012.

The average rate will drop from $1.61 to $1.60 per $100 of insurable earnings, notes a statement from Saskatchewan’s Workers Compensation Board (WCB) in Regina. The new premium follows small but steady reductions over the last several years and is considerably below the $2.05 per $100 of insurable earnings in 2004.

In all, 26,000 employers with better safety records will see rates go down, with an average reduction of 5.3 per cent; a little more than 14,000 employers with poorer safety records will witness rates go up, the average hike being 5.1 per cent; and almost 2,000 employers will experience no change in premiums, notes a WCB statement.

Pointing out that Saskatchewan is the only western province to consistently reduce its average premium in each of the last five years, WCB chairperson David Eberle says the primary driver is improved safety on the job. “Saskatchewan has enjoyed a booming economy for several years. That brings with it the risk of more injury claims, which could increase rates. The fact that our injury rate continues to go down and that we have consistently reduced the rates during the boom is a reflection of safer workplaces and safer work practices,” Eberle notes.

Board CEO Peter Federko adds the expectation is that Saskatchewan’s 2012 average premium will be the fourth lowest in Canada. “But we also still expect to have the second highest injury rate. We want to see both those numbers continue to come down. Staying focused on safety and prevention is the only way to make that happen,” Federko cautions.

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