Toronto - May 24, 2019 - The Ontario government is launching a review of the Workplace Safety and Insurance Board (WSIB) to ensure workers and their families remain supported and protected in the workplace. The review will provide the government with new information regarding the board's operations and how it compares to industry best practices.
Specifically, the operational review will focus on:
- Financial Oversight: sustainability of the WSIB insurance fund and controls over it
- Administration: effectiveness of the current WSIB governance and executive management structure
- Efficiency: the cost-efficiency and effectiveness of operations, including comparisons to competing jurisdictions and private sector insurers
"Ensuring the long-term sustainability of the WSIB will provide workers and their families with peace of mind, knowing if they are injured on the job or have a work-related illness, they will receive the benefits and services they are entitled to," said Laurie Scott, Minister of Labour. "Reviewing and improving the WSIB is one of the ways our government is ensuring that Ontario can continue to attract investment and create good jobs."
The review will be conducted by Linda Regner Dykeman and Sean Speer, who have been appointed based on their respective areas of expertise in insurance and public policy. The review will commence immediately, and a report to the Minister is expected by the end of the year.
The Workplace Safety and Insurance Board is an independent trust agency that administers compensation and no-fault insurance for Ontario workplaces.
On September 26, 2018, the government announced that premium rates for employers would be reduced on average by almost 30 per cent, starting January 1, 2019 due to the elimination of the WSIB’s unfunded liability. This will help employers save money, increase investment and create more jobs, resulting in a $1.45 billion injection into the Ontario economy.
On November 15, 2018, the Minister of Finance’s Fall Economic Statement 2018 noted the government’s intent to review the Workplace Safety and Insurance Board to assess whether risks are being appropriately considered while ensuring rate predictability and to confirm whether the Board is operating efficiently.