TORONTO – (September 26, 2018) – Today the Workplace Safety and Insurance Board (WSIB) announced the elimination of the unfunded liability almost 10 years ahead of schedule. This puts the WSIB in a strong financial position.
The WSIB also announced an average premium rate reduction for 2019 from $2.35 to $1.65, a decrease of 29.8%. The Greater Toronto Hotel Association (GTHA) welcomes the announcements from the WSIB and the rate reductions in both:
- Rate Group 921 (Hotels, Motels and Camping): $2.82 to $1.98, and,
- Rate Group 919 (Restaurants and Catering): $1.52 to $1.04.
GTHA President & CEO, Terry Mundell is the Chair of the General Business Advisory Committee of the WSIB and advocated for rate reductions impacting the hotel industry in the GTA. “We continue to recognize the importance of investing in health and safety programs, reducing lost time injuries and continuing benefits to workers.” said Mr. Mundell. “By eliminating the unfunded liability both injured workers and employers have the full confidence of the WSIB”
The GTHA welcomes this announcement and will continue to work closely with WSIB.