![]() ![]() This limits cross-subsidization between industries, maintains relatively stable insurance rates, and limits growth of unfunded liabilities in the rate groups.Įach year, costs in some rate groups go up, some go down and others stay the same. These classification units are then placed into one of 55 insurance pools we refer to as rate groups.Įmployers in each rate group pay the costs of injuries and diseases that occur to the workers within the group, with the intent that each rate group be self-sufficient with regard to compensation costs. The Workers Compensation Act requires WorkSafeBC to set premium rates annually for employers in order to pay for the workers’ compensation system.Įmployers are placed in one of 515 classification units with other similar businesses. ![]() ![]() You can learn more about changes to our classification structure by downloading changes to classification units for 2024. Our classification unit, industry, and rate search engine contains information on the premium rates for 2024, as well as information from previous years.įind my classification unit, industry, or rate Learn more about the approach taken by WorkSafeBC to recognize the negative impact that COVID-19 claims costs may have had on employers. COVID-19 claims costs and your insurance rate ![]()
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