How Rates are Set
The rate you pay includes an Industry Rate and an Experience Rate. It may also include an Industry Safety Association levy*. Rate setting involves three main steps:
Classify and Group Employers
Employers are classified by industry using Standard Industrial Classification (SIC) codes, which then help determine Industry and Rate Groups.
Set Industry Rates
Rates are determined by costs per payroll dollar and compared to the provincial average.
Make Experience Rating Adjustments
Experience Rating adjusts industry rates based on an employer’s experience.
*If a Safety Association Levy (WCB collects levies on behalf of employers in several industries, to fund industry-based safety associations) is applicable, it is applied as the fourth step.
Learn more about each step in the rate setting process here.