Removing capitalized values of permanent disability awards from the experience rating calculation

At their meeting on May 25, 2017, WorkSafeBC’s Board of Directors approved the release of a discussion paper with options and draft policies to stakeholders for comment.

WorkSafeBC’s experience rating (ER) Plan was introduced in 2000. Under the ER Plan, employers whose claim costs are lower than those of their peers receive a discount on their premiums, and employers whose claim costs are higher pay a surcharge. The goal of the ER Plan is to encourage employers with high injury costs to reduce them, and to encourage employers with low injury costs to keep them low.

At issue is whether to stop using the projected total cost of permanent disability awards when calculating an employer’s ER. Instead, WorkSafeBC would include the amounts of these awards as they are paid out to workers over time.

The discussion paper, draft policies, and information on how to provide feedback can be accessed through the following link:

Proposed policy amendment to remove the capitalized values of permanent disability awards from the experience rating (ER) calculation

The consultation period for this item will end at 4:30 p.m. on Friday, September 15, 2017. The Board of Directors will consider stakeholder feedback before making a decision on the proposed policy.

Please note that COCA will be submitting comments on behalf of members. If you are making a submission on behalf of your own organization or company or would like to provide input to COCA’s response, please email to dave@cocabc.ca.