Having held 2021 rates steady at 2020 levels to help support businesses during the COVID-19 pandemic, we are resuming the transition approach to our rate-setting model in 2022.
Businesses eligible for a reduction will continue to see decreases to their premium rate and businesses with projected increases due to their individual and/or class risk and experience will move up a maximum of one risk band from their prior year risk band (approximately five per cent) toward their projected premium rate.
The average premium rate for businesses will be reduced by 5.1 per cent for 2022. This represents a premium decrease from a Schedule 1 average rate of $1.37 on every $100 of insurable payroll in 2020 and 2021, to an average of $1.30 in 2022.
Reading your 2022 statement
Your 2022 statement provides you with the following information:
- Your North American Industry Classification System (NAICS) classification*
- Your rate, which is the actual rate you will pay and use to calculate your 2022 premiums throughout the year
- Your projected rate, which gives the future direction, up or down, that your premium rate is headed if there is no change in your individual and class experience from year-to-year
New businesses are assigned the class rate of the class/subclass they are placed in based on their business activity. You can view your 2022 individual premium rates by logging in to our online services and selecting "analyze your rates and past claims costs.”
Learn more about how to read your statement.
*Please note all claims and insurable earnings data is as of May 15, 2021
We have updated our approach to smoothly transition all businesses to our rate-setting model following the rate hold in 2021. Any projected increases due to your individual and/or class risk and experience will be applied as follows:
- In 2022, businesses with a projected premium rate increase will move up a maximum of one risk band from their prior year risk band (approximately five per cent).*
- In 2023, businesses with a projected premium rate increase will move up a maximum of two risk bands from their prior year risk band (approximately 10 per cent).*
Any projected decreases due to your individual and/or class risk and experience will be applied in 2022 and 2023 (subject to transition funding, and other rate adjustments). Starting in 2024, our policies for premium rate setting under the new model will be fully in effect. Businesses with projected premium rate increases will move up or down a maximum of three risk bands from their prior year risk band (approximately 15 per cent),* until they reach their projected premium rate.
Please note: The above transition approach does not apply to temporary employment agencies or non-profit organizations. Please see our premiums and payments FAQs or view our temporary employment agency transition policy and non-profit organization policy, for more information.
*In rare circumstances risk band movement may result in a rate change lower or greater than the approximate percentage indicated. Please see our premiums and payment FAQs for more information.
Maximum insurable earnings
The maximum insurable earnings ceiling for 2022 is $100,422, compared to $97,308 in 2021. Changes to the maximum insurable earnings ceiling are based on amendments made to the Workplace Safety and Insurance Act in 2021, which gave the Ontario government regulation-making authority to set the maximum insurable earnings ceiling for 2022. This is intended to provide further support to businesses dealing with the financial impact of the COVID-19 pandemic.
|Class||Class description||2022 class rate|
|B||Mining, Quarrying and Oil and Gas Extraction||2.38|
|E1||Food, Textiles and Related Manufacturing||1.25|
|E2||non-Metallic and Mineral Manufacturing||2.11|
|E3||Printing, Petroleum and Chemical Manufacturing||0.99|
|E4||Metal, Transportation Equipment and Furniture Manufacturing||1.80|
|E5||Machinery, Electrical Equipment and Miscellaneous Manufacturing||1.07|
|E6||Computer and Electronic Manufacturing||0.24|
|F1||Rail, water, Truck Transportation and Postal Service||4.03|
|F2||Air, Transit, Ground Passenger, Recreational and Pipeline Transportation, Courier Services and Warehousing||1.77|
|G1||Residential Building Construction||2.63|
|G3||Foundation, Structure and Building Exterior Construction||4.11|
|G4||Building Equipment Construction||1.70|
|G5||Specialty Trades Construction||2.36|
|G6||Non-residential building Construction||1.79|
|H1||Petroleum, Food, Motor Vehicle and Miscellaneous Wholesale||1.75|
|H2||Personal and Household Goods, Building Materials and Machinery Wholesale||0.74|
|I1||Motor Vehicles, Building Materials and Food and Beverage Retail||1.27|
|I2||Furniture, Home Furnishings, Clothing and Clothing Accessories Retail||0.80|
|I3||Electronics, Appliances and Health and Personal Care Retail||0.34|
|I4||Specialized Retail and Department Stores||0.94|
|J||Information and Culture||0.39|
|K||Finance, Management and Leasing||0.91|
|L||Professional, Scientific and Technical||0.22|
|M||Administration, Services to Buildings, Dwellings and Open Spaces||1.67|
|N1||Ambulatory Health Care||1.37|
|N2||Nursing and Residential Care Facilities||1.98|
|O||Leisure and Hospitality||0.94|
Non-exempt partners and executive officers in construction
Non-exempt partners and executive officers in construction, who were classified under rate group 755 in our previous rate-setting model, continue to receive a separate premium rate. This premium rate reflects the low risk of their work in comparison to the rest of the construction industry. The same premium rate is assigned to all non-exempt partners and executive officers in construction in a given year, although they are classified under any one of the six construction subclasses depending on the operations of their construction business. The 2022 rate for this group is $0.12.