The Workers Compensation Board has reduced the average assessment rate for Island employers. The average assessment rate for 2018 will be $1.60 per $100 of payroll which is a ten cent decrease from the 2017 rate.
The costs of workplace injuries continue to be the key factor in assessment rates, so the reduced rates demonstrate a positive trend in safety performance for most Island workplaces.
Every year the Workers Compensation Board establishes the average employer assessment rate to cover the current and future costs for injured workers.
All Island employers will be advised of their individual assessment rates in December.