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- calendar_today October 22, 2026
WSIB Premium Rate Reduction to Benefit Ontario Businesses
The Workplace Safety and Insurance Board (WSIB) has announced a significant reduction in average premium rates for Ontario businesses beginning January 1, 2027. The average premium will drop from $1.23 to $1.18 per $100 of insurable payroll, delivering a total of $160 million in business cost savings next year.
Supporting Business Competitiveness and Workers Insurance
More than 80 per cent of premium-paying businesses in Ontario will benefit from this premium rate reduction. The province reports that since 2024, over $4 billion in WSIB rebates have been returned to eligible safe businesses, supporting both business competitiveness and workplace safety. Ontario's average WSIB premium rates now stand nearly 30 per cent below the national average, helping businesses maintain stability as they face ongoing economic challenges, including the tariff impact from the United States.
Statements from Ontario Leaders
Trevor Jones, Minister of Labour, Immigration, Training and Skills Development, emphasized the value of these reductions, stating, "By lowering costs, we're helping Ontario businesses become more competitive and invest in the people who drive their success. This WSIB rate reduction gives employers more room to strengthen their teams, create safer workplaces and grow their businesses, supporting good-paying jobs across the province."
Jeffery Lang, President and CEO of the WSIB, highlighted how improvements and cost management allow for these reductions: "We’re able to help people recover and return to work while also helping over 80 per cent of businesses to receive a rate cut."
Accessing Insurance Premiums and Individual 2027 Rate Statements
Businesses will be able to access their individual 2027 workers insurance premium rate statements through the WSIB's online services starting in November 2026. This adjustment marks a continued trend in premium rate adjustments, down from $2.35 in 2018 and consistently lower each year since, reinforcing long-term business cost savings for Ontario businesses.
Ontario Government Supports for Business Growth
The WSIB premium rates cut is part of a broader provincial plan to protect and grow the Ontario economy. Other government initiatives include:
- Reducing the small business corporate income tax rate from 3.2 per cent to 2.2 per cent, providing $1.1 billion in relief for over 375,000 small businesses.
- Investing $150 million through the Ontario Together Trade Fund to help businesses expand into new markets and strengthen domestic supply chains.
- Expanding eligibility for the $1 billion Protect Ontario Financing Program, offering low-interest loans to help tariff-impacted businesses manage costs and protect jobs.
- Investing $228 million through the Canada–Ontario Workforce Tariff Response to assist workers with training and skills development to adapt to changing market conditions.
These efforts are aimed at supporting both businesses and employees as the province navigates U.S. tariffs and broader global economic uncertainty.
Key Facts about Ontario’s Workplace Safety Insurance Program
- The WSIB provides workplace safety and insurance coverage for about 5.6 million workers at over 330,000 insured businesses and workplaces across Ontario.
- Ontario's average WSIB premium rate is close to 30 per cent lower than the national average.
- Businesses can expect to see their adjusted premium rate statements for 2027 in November 2026 via WSIB's online portal.
The ongoing premium rate reduction, along with government initiatives and wsib rebates, underscores Ontario's commitment to creating a more competitive and resilient business environment while maintaining robust workers insurance and workplace safety systems.
Source: news.ontario.ca.
