Moncton, May 31, 2018 – The Canadian Federation of Independent Business (CFIB) is calling for a mid-year update from WorksafeNB on the progression of claim volumes, costs, duration and funding position.
“With the dramatic changes occurring in the system, a mid-year update is necessary” said Louis-Philippe Gauthier, CFIB’s Director of Provincial Affairs, New Brunswick. “What are the cost trends and where does the accident fund stand? Waiting to communicate this information later in the year is simply not an option.”
In 2017, WorksafeNB’s board of directors adopted a new goal aimed at engaging stakeholders in its strategic plan. Information sessions were organized in Bathurst and Moncton outlining the key factors driving changes to claim volumes, duration, costs, variations in funding and assessment rates. The sessions allowed stakeholders to gain a greater understanding of the cost pressures occurring in the workers’ compensation system and should be replicated this year.
CFIB sent a letter requesting a mid-year update to the chairperson of WorkSafeNB on May 23, 2018.
“The workers’ compensation system is one hundred percent funded by employers. Business owners need to have an update now so they can determine if premium surcharges and additional rate increases are on the horizon for 2019,” concluded Gauthier.
For media enquiries or interviews, please contact:
Louis-Philippe Gauthier, Director of Provincial Affaires, New Brunswick
CFIB is Canada’s largest organization exclusively representing the interests of small and medium-sized businesses with 110,000 members across every sector and region, 5000 of which are located in New Brunswick. Learn more at cfib.ca.