The average assessment rate for workers compensation next year is going up by 15 per cent. That word from Worksafe NB who claims it could have been higher.
WorkSafe NB’s board of directors estimates the cost to manage the workers’ compensation system in 2018 will be $1.93 per $100 of payroll.
Employers have been griping about a double digit increase. The board decided to revise its funding target downward. This resulted in an average assessment rate of $1.70.
Worksafe NB blames the increase on rising claim costs but maintains it kept the average assessment rate down, in part, by reducing administration costs.
