• Menu
  • Skip to main content
  • Skip to secondary navigation
  • Skip to primary sidebar
  • Skip to footer

Before Header

  • Search
  • About
  • Contact
  • Privacy
 
CHOOSE BROADSPIRE

Amaxx Workers Comp Blog

Reduce Workers Compensation Costs By 20-50%

Header Right

  • Home
    • Training Center
  • Get Started
    • Newcomers Class for WC Professionals
    • Subscribe to Free Newsletter
    • Free Training Center Account
    • Return to Work Resources
    • WC Claims Mgmt. Resources
    • Insurance Advisor Resources
  • Membership
    • Insider (free account)
    • WC Mastery
    • Teams & Managers Mastery
    • Training Partners
  • Products
    • On-Demand Courses
    • Specialty Courses
    • Certifications & Mastery Courses
    • Ultimate Guidebooks
  • Blog
    • Video Blogs
    • COVID-19 / Coronavirus Pandemic
  • Login

Mobile Menu

Choose Broadspire

CHOOSE BROADSPIREBroadspire Delivers Meaningful Results to Our Clients and Their Claimants
  • Home
    • Training Center
  • Get Started
    • Newcomers Class for WC Professionals
    • Subscribe to Free Newsletter
    • Free Training Center Account
    • Return to Work Resources
    • WC Claims Mgmt. Resources
    • Insurance Advisor Resources
  • Membership
    • Insider (free account)
    • WC Mastery
    • Teams & Managers Mastery
    • Training Partners
  • Products
    • On-Demand Courses
    • Specialty Courses
    • Certifications & Mastery Courses
    • Ultimate Guidebooks
  • Blog
    • Video Blogs
    • COVID-19 / Coronavirus Pandemic
  • Login
  • Search
  • About
  • Contact
  • Privacy
You are here: Home / Buyers Guide: Workers Compensation Insurance / Insurance Issues, Rates, Premiums / Saskatchewan WCB Proposes Modest Drop in 2012 Rates

Saskatchewan WCB Proposes Modest Drop in 2012 Rates

January 10, 2012 By //  by Robert Elliott, J.D. Leave a Comment

The Saskatchewan WCB recently announced its plan for a modest reduction in the average employer premium for 2012.

 
The 2012 average premium will be $1.60 per hundred dollars of payroll, down one cent from 2011. According to the Board, stable claim costs and injury frequencies contributed to the WCB’s decision. The proposed 2012 premium is the lowest average premium rate in a decade, and nearly 22 per cent lower than the 10-year high of $2.05 in 2004. (WCxKit)
 
 
Premiums for 28,071 employers stay the same or are lower. The average decrease is 5.3 per cent; the range is 1.0 to 21 percent. According to the WCB, 14,115 employers pay higher premium rates next year, as a result of their claims experience. The average increase is 5.1 percent; the range is 1.0 to 17.8 percent.
 
 
It is expected Saskatchewan will have the fourth lowest average employer premium in Canada for 2012.
 
 
Peter Federko, the WCB’s chief executive officer, said that recent investment market volatility did not impact the decision on rates. A new funding policy directs that only realized gains and losses – that is, gains and losses from the sale of investments – are used to determine the WCB’s funded position.
 
 
According to Federko, “As required, the WCB has adopted the new international financial reporting standards. The new policy recognizes this financial statement reporting requirement and brings more stability to our calculations, and that includes calculating our employer premium rates.”
 
 
The province has seen an almost 40 percent drop in the workplace injury rate since 2002. (WCxKit)
 
 

Officials credit business owners and Saskatchewan’s working men and women for the huge shift towards safer workplaces, adding that, “workplace safety is the surest way for an employer to bring down WCB costs. It’s a management practice with paybacks for everyone: employers, workers, families and neighborhoods all benefit when we go home safely from work.”


Author Robert Elliott
, executive vice president, Amaxx Risk 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. See www.LowerWC.com for more information. Contact: Info@ReduceYourWorkersComp.com.
 

Our 2012 WORKERS COMP BOOK is HERE!  www.WCManual.com
WORK COMP CALCULATOR:  www.LowerWC.com/calculator.php

MODIFIED DUTY CALCULATOR:  www.LowerWC.com/transitional-duty-cost-calculator.php
WC GROUP:   www.linkedin.com/groups?homeNewMember=&gid=1922050/
SUBSCRIBE:  Workers Comp Resource Center Newsletter
 
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.
 
©2011 Amaxx Risk Solutions, Inc. All rights reserved under International Copyright Law. If you would like permission to reprint this material, contact Info@ReduceYourWorkersComp.com

Filed Under: Insurance Issues, Rates, Premiums, Lowering Premiums & Experience Mod, WC in Other Countries (International) Tagged With: Saskatchewan WCB

Related Articles

Experience Modification Factor Fundamental – Actual vs Expected

Experience Modification Factor Fundamental – Actual vs Expected

Experience Modification Method To Calculate Workers Comp Premium

Experience Modification Method To Calculate Workers Comp Premium

Correctly Calculate the Average Weekly Wage

Correctly Calculate the Average Weekly Wage

Independent Contractors in Workers’ Compensation: When Are They Really An Employee?

Independent Contractors in Workers’ Compensation: When Are They Really An Employee?

Understanding the HIGH Cost of Selecting the LOW Price Work Comp Proposal

Understanding the HIGH Cost of Selecting the LOW Price Work Comp Proposal
experience modification rating

4 Ways to Lower Your Experience Modification Rate and Why it Matters

4 Ways to Lower Your Experience Modification Rate and Why it Matters

Know Your Correct Job Classification Codes To Save Workers’ Comp Costs

Know Your Correct Job Classification Codes To Save Workers’ Comp Costs

Six Tips to Get the Most From Your Insurer

Six Tips to Get the Most From Your Insurer

The 8 Sections of Your Workers Compensation Insurance Policy

The 8 Sections of Your Workers Compensation Insurance Policy

3 Workers’ Comp Payroll Deductions Most Often Missed by Employers.

3 Workers’ Comp Payroll Deductions Most Often Missed by Employers.
6 Common Mistakes Made In A Workers’ Comp Premium Audit

6 Common Mistakes Made In A Workers’ Comp Premium Audit

6 Common Mistakes Made In A Workers’ Comp Premium Audit

5 Ways to Get Started Reducing Workers’ Compensation Risk

5 Ways to Get Started Reducing Workers’ Compensation Risk

Free Download

Workers' Comp Claims Review Checklist: 9 Must-Have, Serious-Impact Elements - FREE Download Click Here Now!

Train to Succeed

BECOME CERTIFIED IN WORKERS’ COMPENSATION

Proven Course Catalog & WC Toolbox Give You The Power To Achieve Lower Costs and Better Injured Worker Outcomes

VISIT WORKERS' COMP TRAINING CENTER

Free Download

How to Calculate Your Minimum Experience Mod, Controllable Premium & the Revenue Impact - FREE Download Click Here Now!

Train to Succeed

BECOME CERTIFIED IN WORKERS’ COMPENSATION

Proven Course Catalog & WC Toolbox Give You The Power To Achieve Lower Costs and Better Injured Worker Outcomes

VISIT WORKERS' COMP TRAINING CENTER

Free Download

The 5 Cs For Taking A Bulletproof Injured Worker Recorded Statement - FREE Download Click Here Now!

Train to Succeed

BECOME CERTIFIED IN WORKERS’ COMPENSATION

Proven Course Catalog & WC Toolbox Give You The Power To Achieve Lower Costs and Better Injured Worker Outcomes

VISIT WORKERS' COMP TRAINING CENTER

Previous Post: « Global Manufacturer Fined after Worker Dies in British Factory
Next Post: What to Tell Employees Who Are Injured On The Job »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

FREE DOWNLOAD

Workers' Comp Claims Review Checklist: 9 Must-Have, Serious-Impact Elements - FREE Download Click Here Now!

FREE DOWNLOAD

How to Calculate Your Minimum Experience Mod, Controllable Premium & the Revenue Impact - FREE Download Click Here Now!

FREE DOWNLOAD

The 5 Cs For Taking A Bulletproof Injured Worker Recorded Statement - FREE Download Click Here Now!

Our Sponsors

Broadspire

Workers’ Comp 3rd-Party Administrator
 

Catastrophic Care Management, Complex Care, and Specialty Networks
 

Ametros

Post-Settlement Administration
 

Medicare Secondary Payer Services
 

Medcor

Injury Triage, Onsite Clinics

Read Our Award-Winning Blog

Blog Categories

Search Our Archive

Subscribe to Our FREE Newsletter

Footer

Search Our Archive

Search our continually growing archive of over 2500 articles about Workers' Comp issues.

Quiclinks

  • Calculators
  • Terms & Abbreviations
  • Glossary of WC Premium Terms
  • WC Resources
  • Best Practices
  • Industries

RSS Recent Blog Posts

  • 20 Unfair Claim Practices For Your Adjuster To Avoid
  • Use Vocational Coordination When Employees Are Unable To Return to Work
  • Implement These Safety Training Guidelines
SUBSCRIBE TO OUR FEE NEWSLETTER
Let Us Help You Stomp Down the High Cost of Workers' Comp!
Top of Page ↑
  • Home
  • Training Center
  • Get Started
  • Membership
  • Products
  • Blog
  • About
  • Contact
  • Subscribe
  • Login
Copyright © 2021 Amaxx, LLC. All Rights Reserved. · Privacy Policy / Legal Notice