What's this about?
We firmly believe that worker compensation schemes, like the Workplace Safety and Insurance Board (WSIB), are a prerequisite to a fair and just society. When a worker is injured on the job, they deserve compensation and assistance so they can make ends meet and re-enter the workforce as quickly as possible.
The WSIB faces a number of problems that threaten to undermine its mandate; the most prominent being its massive unfunded liability—the amount by which future payment obligations exceed the present value of funds available.
Beyond the unfunded liability, businesses have a number of concerns with the WSIB that need to be rectified, including:
- Ontario’s average employer premium rate is still one of the highest in Canada. This is perplexing, considering that the frequency of workplace accidents has steadily declined in Ontario.
- The WSIB has made progress in its reforms, but structural flaws in the internal governance still persist. There is a lack of appropriate oversight, financial regulation, and autonomy within the WSIB.
- The WSIB struggles to provide a broad range of services. Many of the services under the purview of the WSIB could be performed by other government institutions.
We are working with all stakeholders, including government, to create a WSIB system that is accountable, transparent, client-focused, independent, and efficient.
Our goal is to help create a workplace insurance system that protects workers and does not compromise Ontario’s economic competitiveness.
We believe that the WSIB must follow through on its plan to tackle its unfunded liability.
The WSIB must also continue to make progress on reforming the way in which it classifies employers and sets its rates and experience ratings in order to create a fairer workplace insurance system.
We also believe that the WSIB should be subject to the Auditor General’s oversight and scrutiny as a means to increasing transparency and accountability.