• Chamber Applauds Rate Decrease and Service Improvements from WSIB

    The London Chamber of Commerce was pleased to see a number of wins for the business community announced at the WSIB Annual General Meeting on October 6, 2021.

    The London Chamber of Commerce has had a close and positive relationship with WSIB for several years and has engaged with WSIB in a number of advocacy efforts on behalf of the business community. In 2011, the Auditor General observed a $12B Unfunded Liability.

    Understanding the impact this was having on businesses, the London Chamber of Commerce made a series of recommendations to the WSIB and started meeting on a near yearly basis with former president, Tom Tehan in the London office. Thanks in part to the advocacy work of the Chamber, WSIB was able to completely eliminate their unfunded liability 10 years ahead of schedule.

    At the recent WSIB AGM, there was further good news for the business community including:

    • WSIB currently has $6.1B in reserves and are at a 119.5% funding level.
    • In 2022, WSIB will be making its 6th premium reduction for employers since 2016 with a 5.1% decrease.
    • Service improvements have been made including a Safety Check feature which allows employees or potential employees to see if an employer has a good safety record.
    • WSIB has more than doubled its number of health care providers, they’ve simplified their process, and are providing faster access to services.
    • Key priorities for 2022 are helping people recover and return to work, focused investments in IT and data insights, and expanding online services.
    As an organization which represents nearly 1000 businesses in the London area, the Chamber applauds the fact that WSIB has worked to reduce premiums for businesses without compromising (and in fact, improving) their services.  For businesses that lost revenue during the pandemic, these improvements will be especially welcome.
     
    The London Chamber of Commerce, in conjunction with the Ontario Chamber of Commerce and its network affiliates across the province, has done a lot of work both historically and more recently in trying to achieve the best possible outcomes for the WSIB.