The WSIB is funded by the premiums received from Ontario businesses.
Your rate is based on the shared risk of all the businesses that do the same type of work in your class and your individual claims history compared to the rest of the businesses in your class. This approach ensures that businesses are paying a rate that is reflective of their industry and experience.
This is how a business’ premiums are calculated:
Your premiums go toward helping people who experienced a workplace illness or injury by providing:
- funds to replace lost wages
- payment of health care costs
- a support team of caring professionals who aim to get your employee back to work
- benefits to the family or dependents of people who suffered a work-related death
The following resources provide more information on premium reporting and payments:
- how to report and pay your premiums
- understanding your rate
- how to calculate your premium and insurable earnings
- premiums and payment FAQs
- insurable earnings and premium reporting self-evaluator
You can report and make premium payments by logging into our online services.