Premium Projections
As with the NEER program, employers enjoyed the opportunity to project their rebate/surcharge when a decision rendered in their favour adjusted any entitlements in a claim. With the new prospective premium rating program, the need for the Risk Band Tables is necessary (as were Reserve Factor Tables). Since the implementation of the new Premium Rate Setting Model, the WSIB has only released Risk Band Tables for 2020.
While the WSIB expects to release detailed reports detailing the Premium Rate Setting Model for 2021 and 2022 premiums, they have released to my office the Risk Band Tables for both years. The 2022 tables are helpful in projecting you 2023 premiums. Please see the tables on this website.
Should your company/organization require expert assistance with projections, please contact our offices at (519) 472-7088.