Insurance Rates and Premiums

Learn how WCB premiums and rates are set. Access your new rate on MyAccount every Sept 1.
Read more about the rate cut

WCB provides workplace injury insurance to help protect both employers and workers when injuries happen on the job.  For this protection, you pay premiums based on your assigned rate. Like most insurance, the rate you pay is based on risk and history of claims: industries and employers with fewer claims and safer workplaces typically pay less.

How your WCB premiums work

The amount you pay for WCB insurance is based on your WCB rate and the amount of payroll you pay to your workers. 

Your rate is the amount you pay for every $100 of assessable payroll. Assessable payroll is the total gross earnings for all your covered workers, up to the maximum amount set by WCB each year.

So, in the simplest terms:

If your rate is $1.89 and you pay 1 worker $100 in assessable payroll, your WCB premium is $1.89.

AND

If you pay 3 workers $300,000 in assessable payroll, your WCB premium is $5,670.

$300,000 ÷ 100 = 3,000

3,000 × $1.89 = $5,670

Your rate is made up of:

  • Industry rate – based on the average claims costs in your industry group
  • Experience rating – based on your workplace’s ratio of claims costs to payroll over the past 3 years - the experience rating adjusts your industry rate up or down by adding a merit or demerit

Some employers may also pay:

  • A safety association levy – applies to industries that fund safety associations
  • A surcharge – added when your claims costs are significantly and consistently higher than your industry’s average

Here’s another example:

If your rate is $2.19, you pay $2.19 for every $100 of assessable payroll.

If your monthly assessable payroll is $25,000:

  • $25,000 ÷ 100 = 250
  • 250 × $2.19 = $547.50 monthly premium

Learn more about how WCB rate's are set.

How to reduce your premiums

The most effective way to reduce what you pay is to:

  • Prevent workplace injuries through effective health and safety practices.

When injury costs go down, so do your premiums—and outcomes improve for everyone. 

You can also save money by paying your premiums on time to avoid interest and other late payment penalties. Learn more about payment and reporting.

Incentive programs

WCB offers programs that reward employers who invest in safety or improve return-to-work outcomes:

View your current rate

Rates change every year. Each year on September 1, you'll be notified of your assessment rate for the upcoming calendar year.

To view your current rate and your full Experience Rating Statement, log in to MyAccount and find it under the Forms and Letters tab. You can also see how claims costs are affecting your rate—and find opportunities to improve.

If you’re not yet on MyAccount, it’s easy to sign up.

See your industry’s current and recent assessment rates

Last updated: 2026-09-01
Employers MyAccount / WCB Online / tech support Rates and premiums workplace injury insurance