WorkSafeNB Announces Increase in Average Assessment Rate for Employers
WorkSafeNB has announced an increase to the average assessment rate for New Brunswick employers. In 2017, the rate will increase from $1.11 per $100 of payroll to $1.48 per $100 of payroll.
According to WorkSafeNB, the increase is due to recent benefit policy changes and a declining funding position as a result of increasing claim costs. It’s the first increase approved by the WorkSafeNB board of directors since 2010 when the rate began a six year decline from $2.08.
The workplace accident frequency rate in New Brunswick was up slightly in the first six months of 2016 to 2.95 per 100 full-time employees. This followed a decline over the last five years.
WorkSafeNB expects the average rate increase will mean an increase in premiums for most employers, with smaller or larger increases depending on employers’ accident experience.