Proposed 2023 Industry Rate Code

Nov 03, 2022

Proposed 2023 Industry Rate Code

Going into 2023, our industry rate code (T 42- Transportation, Courier, and Commercial Buses) will see an increase of 4.4% 2022 saw a WCB industry premium rate of $3.19 with the industry premium rate coming in at $3.33 per $100.00 of payroll for 2023. Surcharge rate increases are based on increasing claims in the industry as well as related administrative costs related to these claims. According to WCB statistics, the most significant change in claims in terms of dollar amount is due to long-term disability and survivor costs. 

Injury statistics 2017-2021

The top five body parts injured in transportation were: 

  • Shoulder 426 injuries accounting for 9.6% of injury claims
  • Back 884 injuries accounting for 20.0% of injury claims
  • Hand 469 injuries accounting for 10.6% of injury claims 
  • Leg 740 injuries account for 16.7% of injury claims 
  • Multi 436 injuries accounting for 9.9% of injury claims

Top five causes of serious injury in the T42 rate code 2017-2021

  • Falls from a stationary vehicle
  • Falls on the same level
  • Falls to the floor, walkway, or another surface
  • Overexertion in lifting
  • Bending, climbing, crawling, or twisting

The average age of injured persons in our industry was 44.5 years with 28% of injuries occurring to persons under the age of 35.

Reducing the number and cost of claims through injury prevention and workplace safety can improve your company’s experience rating and reduce the WCB premiums you pay. Obtaining a Certificate of Recognition is one way to lower your costs, as this training helps you reduce job-related injuries. Depending on the size of your payroll, the cost of certification can be paid for quickly with your WCB savings.

See the Document Below

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