What is the WSIB ?

The Workplace Safety and Insurance Board (WSIB) is an independent government agency that provides insurance to employers and workers’ compensation to workers in Ontario. If an employee is injured at work, the employee will be covered under WSIB as long as the business is registered for WSIB. It’s aim is to make the workplace safe and be a benefit for both employers and employees.

Who must register with the Workplace Safety and Insurance Board?

Most businesses in Ontario have to register for the Workplace Safety and Insurance Board. In the past only construction businesses were required to register but that has expanded to cover almost all industries. Even businesses that only have office work are required to register. There are a few exceptions such as travel agencies, software developers, photographers, etc. If your company is in an industry that is not required to register for the Workplace Safety and Insurance Board, you can still choose to do so. For a comprehensive list of industries that are exempt, visit the WSIB website.

WSIB Coverage for Employers & Employees in Ontario

The WSIB is set up such that employers must pay premiums to the Workplace Safety and Insurance Board to get coverage for themselves and their employees. Coverage for both parties is very different.

For employers having Workplace Safety and Insurance Board coverage means you are protected from being sued or any lawsuits your insured employees make against you. The Workplace Safety and Insurance Board coverage is no fault insurance so it is stress free for employers.

For employees, having WSIB coverage can mean a few different things. It could provide coverage for health care expenses, benefits for loss of earnings, and helping employees safely get back to work.

How much do you have to pay?

Much like other insurance policies, your rate is dependent on different variables. The Workplace Safety and Insurance Board charges a different rate for different industries and types of work. The list is very detailed and breaks down the industries in detail. Furthermore, your rate could decrease over the years if you have no claims. To make it easier for business owners, the Workplace Safety and Insurance Board has an online service that can help you determine your rate and payments quickly. If you want to utilize the online service, visit the WSIB website.

How can you pay your Ontario WSIB Premiums?

Paying your premiums is made simple by the Workplace Safety and Insurance Board. You can pay through their online service, through your bank, at a local WSIB office or by cheque.

How often does your business have to pay?

The frequency of payments you have to make depends on your annual insurable earnings. If your insurable earnings are less than $300,000, you can choose to pay annually, monthly, or quarterly. However, if your insurable earnings are greater than $300,000, you must pay monthly.

If you’d like to discuss your  Workplace Safety and Insurance Board status or need business or accounting assistance, call our Pickering office for a no obligation initial meeting at 1-905-831-6383 or contact us here.


James Abbott, CPA and Associates

1730 McPherson Court, Unit 1
Pickering, Ontario L1W 3E6
Phone: 905-831-6383
Email: james@jacpa.ca



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