The Workers Compensation Board (WCB) has the authority under The Workers Compensation Act (the Act) to assess and collect from employers the revenue required to fund the workers compensation system. Section 73 of the Act groups covered employers into five classes for assessment purposes.
The rate-setting model described in this policy is used to calculate assessment rates for Class E employers (employers). These assessment rates are then used to determine the amount that will be collected from each employer in order to fund the costs of the workers compensation system. The purpose of this policy is to define the goals and the framework of the rate-setting model.