WorkSafeNB provided an update on its financial situation and average rates are now projected to skyrocket from $1.70 per $100 of assessed payroll to a cost estimated between $2.69 and $2.95 in 2019. For business owners, this latest spike represents a cumulative increase of 166% over the last three years.
95% of CFIB members in New Brunswick said rate increases would be very or somewhat difficult to absorb in 2018. A 74% increase in 2019 will make it an even greater challenge for business owners.
What can I do about it?
- Over 2,000 CFIB members have already signed the Action Alert asking government to bring in legislative changes. If you haven’t done so already, contact our office at [email protected] to request a copy.
- If an employee files a claim and you have concerns or questions use the services of the Office of Employers’ Advocates.
- Prepare to reduce injury costs and get your employees back to work! Contact a CFIB Business Counselor today for a copy of our Return to Work package and Occupational Health and Safety Materials for your business.
Why are premiums going up?
These new costs have nothing to do with workplace safety. In fact, the number of workplace accidents has not increased. Costs are increasing because claims are lasting longer and the workers’ compensation system is paying for benefits not related to workplace injuries. In some cases, it’s replacing social and health services.
Cost increases are driven by decisions made by the Workers’ Compensation Appeals Tribunal (WCTA). The WCAT has overturned WorkSafeNB policies, allowing it to control costs and benefits. The system is now unstable and unsustainable.
What is CFIB doing about it?
CFIB’s request to government is simple: Immediately bring in legislation restoring stability to benefit costs and assessments rates. We are continuing to act on your behalf.
- CFIB represented the interests of business owners on the Ministerial Taskforce. It has puts forward clear recommendations to government to restore stability to the system.
- CFIB is actively voicing your concerns to the premier’s office, multiple ministers, bureaucrats and to the WorkSafeNB CEO, chair and board.
- As part election lobbying, CFIB is asking political parties to commit and resolve this issue by including it in their election platforms.
- CFIB surveyed New Brunswick members and is using your voice to emphasize the negative impact premiums hikes are having on your business.
Have questions? Comments? Contact our office at [email protected] or by calling 1 888 234-2232.