1 Answer

 

If you have employees you are required by law to have WSIB coverage based on your industry rate group.

If you are self-employed you have the option of carrying coverage for yourself. You are not obligated to do this, but you would also not be entitled to any benefits from WSIB if you are injured at work.

So, what does it cover?

WSIB coverage is there to financially assist workers who are injured on the job. The coverage is aimed at recovery, rehabilitation and re-integration into the workforce.

So, how much does it cost?

The cost of the coverage is based on a percentage of your payroll. The percentage is based on your industry classification. The greater the possibility of injury, the higher the premium.

Visit the WSIB website for further information.