Premiums & Your Account
2007 Premium Rates
WCB-Alberta's strong financial position means that for the third year in a row, Alberta employers will see a reduction in their average premium rate.
We collect premiums from your business to cover the costs of work-related
injuries. You pay premiums on the insurable earning of all your
workers up to a maximum annual
amount per worker plus any personal coverage you purchase.
To make it easier for you to pay your premiums, we offer a variety
of payment options.
Find out more about industry classification
Rate setting
- To attain a sufficient statistical base, industries are consolidated
into broader categories referred to as rate groups. Rate groups
are formed on the basis of similar business characteristics and
loss patterns of similar work activity.
- Employer premium rates are set based on the claims experience
of each rate group. Rates are set for the next year, based on historical
data and trends. Your rate is the cost of coverage per $100 of
insurable earnings.
- The rate setting process promotes fairness and accountability
and ensures that today's employers pay the full cost of today's
claims, securing future benefits for injured workers.
Employers are responsible for:
- Notifying the WCB within 15 days of hiring their first
worker.
- Providing specific information about their operations.
- Providing an estimate of their workers' insurable earnings
for the year. Each February you are required to file an
Annual Return
that reports your actual payroll for the previous year.
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