WorkSafeNB president and CEO Doug Jones. (Image: Cherise Letson/Huddle Today)
WorkSafeNB has announced average assessment rates will drop from 2021’s rate of $2.17 per $100 of assessable payroll to $1.69 in 2022, a 22 percent decrease.
Assessments are paid by businesses to cover that year’s expected cost of workplace injuries, rehabilitation, and wage replacement benefits.
2022 assessment rates are based on the 2020 year-end audit financial statements, the year where the Covid-19 virus first had a dramatic impact on the province’s workforce.
“Never has the health and safety of families, friends, co-workers and customers been more front and centre in our everyday lives than it was in 2020,” said Doug Jones, President and CEO of WorkSafe NB in a release. “The attention and dedication to healthy and safe workplaces by our province’s workers, employers, unions, and the government has continued a 10-year trend of improving the lost-time injury frequency in New Brunswick. Improved workplace safety results, combined with better return-to-work outcomes for injured workers, and a strong financial position has allowed WorkSafeNB to announce a reduced provincial assessment rate that is now comparable to the Canadian average assessment rate.”
WorkSafeNB says legislative changes passed by the provincial government in 2018 and 2019 play a part in the lower assessment rates. Changes returned exclusive jurisdiction over the worker’s compensation system to the WorkSafeNB Board of Directors and clarified compensation benefits may only be provided in the event of an injury incurred over the course of employment.
The Board says as a result, they were able to change policies that ended up reducing financial liabilities by $195 million in 2020 compared to 2018.
“Our return to a strong financial position is good news for all New Brunswickers,” said Haley Flaro, Acting Chairperson of WorkSafeNB’s Board of Directors. “We are pleased to be in a position to consider reasonable improvements to the suite of benefits for injured workers while also reducing costs for businesses that benefit the overall provincial economy.”
Liam Floyd is an intern for Huddle, an Acadia Broadcasting content partner.
