By focusing on partnerships and long-term perspective, WCB-Alberta successfully navigated its way through 2009’s challenging and uncertain economic climate.
According to WCB-Alberta, after years of growth, Alberta workers and employers were faced with declining employment and an unpredictable economy. Despite these challenges, WCB-Alberta maintained stable worker benefits and employer premiums.
In presenting WCB-Alberta’s 2009 results to stakeholders at its recent general meeting, Guy Kerr, WCB president and CEO, reiterated the organization’s commitment to balancing the needs of Alberta workers and employers. (WCxKitz)
“We have a responsibility to compensate and rehabilitate covered workers who are injured on the job,” Kerr told stakeholders. “In 2009, WCB and our partners faced immense challenges, but we were prepared with solutions and strategies to maintain stability for both worker benefits and employer premiums while keeping our focus on fairness.”
Alberta’s system shrunk in 2009 with a drop to 1.73 million covered workers (from 1.83) and to 137,000 registered employers (from 140,000). Despite these changes and economic challenges, 93.1% of injured workers successfully returned to work — the highest rate ever.
WCB-Alberta’s 2009 Annual Report provides detailed results. Here are some highlights:
1. The time-lost claim rate decreased to 1.6 per 100 workers.
2. The disabling-injury rate decreased to 2.8 per 100 workers.
3. The system remained financially stable and funded at 128.4%.
Good performance really does matter. Strong operational results combined with solid partnerships allowed WCB-Alberta to withstand external risk. (WCxKitz)
“As a Board, we are satisfied that WCB-Alberta and its partners are moving in the right direction to benefit stakeholders in the long-term,” David Carpenter, chair of the Board of Directors, told stakeholders. “The year 2009 demonstrated that when you plan ahead and make decisions with foresight, you can land on your feet despite what the world throws your way.”
“Looking forward, we are cautiously optimistic of a slow recovery in the Alberta economy,” Kerr added. “We will focus on finding practical yet innovative solutions to working with our partners to return injured workers to work.”
Author Robert Elliott, executive vice president, Amaxx Risks Solutions, Inc. has worked successfully for 20 years with many industries to reduce Workers Compensation costs, including airlines, healthcare, printing/publishing, pharmaceuticals, retail, hospitality and manufacturing. Contact: [email protected] or 860-553-6604.
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Do not use this information without independent verification. All state laws vary. You should consult with your insurance broker or agent about workers comp issues.
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