October 4, 2016
The average assessment rate for New Brunswick employers in 2017
will increase from $1.11 per $100 of payroll to $1.48 per $100 of
It’s the first increase approved by the board of directors since
2010. Over the last six years, the average rate declined from $2.08
in 2010 to $1.11 in 2016.
Recent benefit policy changes and a declining funding position
were major factors in the board’s decision to increase the average
assessment rate for 2017.
Increasing claim costs, mainly as a result of changes to benefit
policies coupled with a slight increase in accident frequency, have
led to a reduction in WorkSafeNB’s funding position.
New Brunswick’s accident frequency rate increased slightly in
the first six months of this year to 2.95 per 100 full-time
equivalents, after a continued decline over the last five years. In
2015, the rate was 2.76. Furthermore, the wage replacement and
health-care benefits associated with each claim have increased
When WorkSafeNB’s funding position is above the board’s target
of 110%, policy directs the board of directors to reduce the
funding level by lowering the assessment rate. In previous years,
New Brunswick employers received a significant reduction in lower
assessment rates because of WorkSafeNB’s strong funded position.
The 2016 rate contained a $0.43 reduction. The 2017 rate will
contain a smaller reduction of $0.23 as WorkSafeNB’s funding
position moves closer to its target of 110% funding.
The average rate increase will see assessed premiums increase
for most employers. Individual employers will see smaller or larger
increases based on their accident experience.
WorkSafeNB is committed to providing the best possible benefits
to injured workers and their families while ensuring system
sustainability and maintaining the lowest possible assessment rates
for employers. Its fully funded position provides continued
security of benefits for injured workers and their families.
More information on the 2017 average assessment rate, including
Frequently Asked Questions, is available at our website.