July 31, 2020
WCB Reports 2019 Highlights at Annual Public Meeting
The Workers Compensation Board (WCB) released its 2019 Annual Report at their Annual Public meeting this week. The 2019 Annual Report highlights were presented for the first time in a virtual meeting format. “We are pleased to report on the highlights from the past year,” said WCB Board Chair Jim MacPhee. “In 2019, we had a strong financial performance and an effective funding policy, and we feel that we have struck a careful balance of benefit enhancements for injured workers and financial sustainability for employers who fund the system. While 2019 was a strong year, we are facing unprecedented circumstances now in 2020, and the potential economic impact of COVID-19 on future financial performance remains to be seen.” In 2019, the WCB introduced two new programs, including the Annuity Program to modernize and broaden how WCB compensates for loss of pension income, and the Direct Access to Physiotherapy program which provides injured workers more timely access to the support they need to recover faster. Additionally, several policy changes were made to enhance the benefits under Transportation Assistance, Review of Benefits, Clothing Allowance and Return to Work policies. To continue WCB’s efforts to build a culture for safe and healthy workplaces, 2019 brought about a launch of a new mobile app to provide instant access to common health and safety topics, and the initial work was done to bring about workplace harassment legislation which became effective in July 2020. “We are pleased to report on the many accomplishments of this past year, and we continue to strive toward delivering strong client-centered services and supports. Our 2019 employer satisfaction survey and return-to-work survey results show an improvement in our stakeholder interactions, and we are proud of that,” said WCB Chief Executive Officer Cheryl Paynter. “COVID-19 has brought many unexpected challenges, and we have been able to build some flexibility into helping our stakeholders, including offering more electronic service delivery options and deferring employer assessments to September.” 2019 Stats at a Glance6,115 assessed employers1,984 claims adjudicated Employer Satisfaction Index increased to 90.9 in 2019 from 84.7 (2017) Funded Status of 147.8% as of December 31, 2019, up from 146.3% in 2018$20 million surplus distribution to employers In 2019, the WCB had investment gains of $28.3 million dollars (+14%)Average assessment rate down to $1.58, from $1.60 in 2018 For more information or to read a full copy of the 2019 annual report and 2019 audited financial statements, visit the WCB website at www.wcb.pe.ca.
July 30, 2020
New WCB policy
The WCB Board of Directors has approved a new policy, Decision Making (POL-160). The new policy combines content from WCB policies, Benefit of Doubt (POL-62), New Evidence (POL-83) and Weighing of Evidence (POL-68), and as a result these policies have been rescinded. The WCB thanks all stakeholders who participated in the consultation process.
