A continued decline in accident frequency and stabilized claim costs has allowed WorkSafeNB to maintain the average assessment rate for New Brunswick employers in 2016. The rate will remain at $1.11 per $100 of payroll.
The provincial workplace accident frequency rate has continually declined over the past few years. The rate has dropped from 3.22 per 100 full-time equivalents (FTE) in 2010 to 2.89 in 2014.
“In addition to stable claim costs, positive investment returns have helped secure WorkSafeNB’s fully-funded position. And a fully-funded position ensures future benefits for our injured workers and their families, while maintaining the lowest possible assessment rates for employers,” said Gerard Adams, president and CEO of WorkSafeNB.
“While ensuring the security of fair benefits for our injured workers and their dependants is of utmost importance to us, we believe the best benefit we can provide all New Brunswickers is that of healthy and safe workplaces,” Adams said.
The 2016 assessment rate under the Firefighters' Compensation Act (the FC Act) has also been maintained. The rate, which remains at $690 per firefighter, is effective January 1, 2016.
“When the FC Act and its Disability Fund were established in 2009, it was expected that it would take several years to achieve full funding status. Since then the funding status has steadily improved, from a low of 0.1% in 2009 to 39.0% as of December 31, 2014,” he said.
WorkSafeNB is responsible for administering the FC Act. This includes the payment of benefits to firefighters or former firefighters and dependants, and levying and collecting assessments from municipalities, rural communities and local service districts.