FOR IMMEDIATE RELEASE
Nova Scotia workplaces becoming safer: WCB Annual Report
Fewer Nova Scotians injured on the job; fewer days lost to injury
April 9, 2010 – Halifax, NS – Nova Scotians who are enthusiastic about workplace safety continue to take action and make progress in creating a safety culture.
In 2009, about 28,000 Nova Scotians were injured at work – an 11.5 per cent decrease from the year before.
Of those, 7,200 people were injured seriously enough that they lost time from work. While this is a staggering number, serious workplace injuries fell below 8,000 for the first time in over a decade – a decrease of 20 per cent since 2005 representing 1,800 fewer serious injuries over that time.
“We devoted the WCB’s energy to reaching these goals but we recognize that credit for these positive results is shared with our safety partners, including the Nova Scotia Department of Labour and Workforce Development, safety associations and the many workers and employers across Nova Scotia who were inspired to make safety and return-to-work improvements in their workplaces,” said Nancy MacCready-Williams, CEO of the Workers’ Compensation Board.
While there is good news happening in workplaces across the province, workplace tragedies continue to have a devastating impact on many Nova Scotian workers and their families. Sadly, thirty-two people died at work in Nova Scotia in 2009 – some for reasons directly related to their work, and others not.
“Out of respect for these people and for the safety of all workers into the future, our injury prevention efforts must continue,” said MacCready-Williams. “Each and every Nova Scotian should celebrate the reduction in injuries this year. But at the same time, we all share the responsibility of preventing workplace tragedies from happening in years to come.”
Following two years of significant financial losses in 2007 and 2008, 2009 saw the beginning of positive changes in the financial markets which is reflected in the WCB’s surplus of $12.4 million at year-end. While this is a financial gain in 2009, the WCB’s cumulative financial loss over the past three years, primarily due to investment returns, may have implications for its funding strategy.
“While we have by no means recovered the losses of recent years, this is a positive sign,” said MacCready-Williams. “Had we not experienced significant investment losses, we would be much closer to our goal of eliminating the unfunded liability by 2016. As the WCB Board of Directors does each year in June, the Board will determine what changes to the funding strategy – if any – are required.”
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WCB 2009 YEAR AT-A-GLANCE
(Dollar amounts in millions except where noted)
|
|
2009 |
2008 |
2007 |
|
Number of Covered Employers (assessed and self insured) |
18,100 |
18,000 |
18,600 |
|
Percentage of Labour Force Covered (assessed and self insured) |
70 |
71 |
72 |
|
Number of Claims Registered |
28,089 |
31,753 |
32,038 |
|
Number of Compensable Time-Loss Claims Registered |
7,206 |
8,050 |
8,230 |
|
Duration Index
(excluding chronic pain claims in transition services, in days) |
98 |
95 |
102 |
|
Targeted Average Assessment Rate
(per $100 of assessable payroll) |
$2.65 |
$2.65 |
$2.65 |
|
Actual Average Assessment Rate
(per $100 of assessable payroll) |
$2.67 |
$2.68 |
$2.64 |
|
Total Assessable Payroll (billions) |
$8.7 |
$8.6 |
$8.2 |
|
Total Assessment Revenue |
$272.8 |
$273.1 |
$254.4 |
|
Total Investment Income (Loss) |
$97.1 |
$(174.8) |
$23.2 |
|
Total Administration Costs |
$43.5 |
$43.2 |
$44.1 |
|
Legislated Obligations |
$11.5 |
$11.4 |
$9.2 |
|
Total Claims Costs Incurred |
$187.0 |
$187.1 |
$175.6 |
|
Excess of Expenses over Revenues |
$(43.0) |
$(251.2) |
$(11.8) |
|
Total Comprehensive Income (Loss) (millions) |
$12.4 |
$(248.6) |
$(103.5) |
|
Total Assets (billions) |
$1.0 |
$0.9 |
$1.1 |
|
Total Liabilities (billions) |
$1.6 |
$1.5 |
$1.5 |
|
Percentage Funded Ratio |
62.4% |
59.9% |
75.3% |
|
Timeliness of First Payment to Injured Workers (percentage of payments made within 15 days of injury) |
79.8% |
71.8% |
78.0% |
|
Injury Rate: Time-Loss Claims per 100 Covered Employees |
2.26 |
2.48 |
2.57 |
About the WCB
The Workers’ Compensation Board of Nova Scotia (WCB) is committed to keeping Nova Scotians safe and secure from workplace injury. The WCB provides workplace injury insurance for more than 18,000 employers, representing about 300,000 workers across the province. The WCB sets the standard for workplace injury insurance by informing and inspiring Nova Scotians in the prevention of workplace injury. If an injury occurs, we support those whose lives it touches by championing a timely return to safe and healthy work.
Review the 2009 Annual Report.
For more information contact:
Mary Kingston
Director, Communications & Marketing
902.491.8101 (p)
mary.kingston@wcb.gov.ns.ca