July 17, 2019
Revised WCB Policies
The following Employer Services policies have been edited and reorganized to make them easier to understand: POL-19 Employer Registration POL-14 Assessable Payroll and POL-13 Employer Assessment Billing have been combined under the new title, POL-14 Assessable Payroll and Assessment BillingThe changes are noted in the History section at the end of each policy.
July 16, 2019
WCB reports 2018 highlights at Annual Public Meeting
The Workers Compensation Board (WCB) released its 2018 Annual Report today at their Annual Public meeting. “We are pleased to report the highlights from the past year,” said WCB Board Chair Stuart Affleck. “Our strong funded position allowed us to continue to reduce assessments, provide a surplus distribution to Island businesses, all while increasing benefits and services for injured workers.” In 2018, the WCB introduced presumptive coverage for trauma and stressor related disorders; prepared for new legislation that presumes that specific cancers and heart injuries among firefighters are work-related; prepared several resources for employers and clinicians alike; and distributed over $430 thousand in grant funding to support training and innovative workplace solutions that will improve health and safety and return to work. In addition to legislative changes, there were many enhancements to WCB Policies, including enhancements to the Home Modifications Policy and increases to the Lump Sum Death Benefit. “We were pleased to report on the many accomplishments of 2018, and we look forward to the important work ahead of us in our new five year Strategic Plan, which is a product of great collaboration and insight from our Stakeholders,” said WCB Chief Executive Officer Cheryl Paynter. 2018 Stats at a Glance 5,828 assessed employers1,956 claims adjudicated 2,624 inspections completed by OHS Officers475 OHS Education & Training Sessions Biennial Injured Worker Survey- Satisfaction Index increased to 76.2 in 2018 from 71.4 (2016) Funded Status of 146.3% as of December 31, 2018, down from 165.4% in 2017$21.9 million surplus distribution to employers In 2018, the WCB had investment losses of $4.4 million dollars (-1.32%) ending a 9 year run of positive annual investment returns, averaging just over 10%.Average assessment rate down to $1.60, from $1.70 in 2017 and $2.16 in 2009 A full copy of the WCB Annual Report, can be found here.
