In September 2010, the Workplace Safety & Insurance Board (WSIB) requested that the government appoint an independent third party to undertake a year-long Funding Review of its financial circumstances. Harry Arthurs was appointed to lead the review. Its main goal was to find efficiencies and a model that reduced the WSIB’s Unfunded Liability which has ballooned to the $14 billion mark. The Harry Arthurs Funding Review team is entering its fourth phase of its work, which includes consulting with employers and worker stakeholders. The discussions will include possible ideas and recommendations on reports originating on the research and stakeholder consultations that transpired since the review team started its funding evaluation task. You can find additional information and provide your own input by visiting their website at www.wsibfundingreview.ca  

The WSIB Unfunded Liability (UFL), the difference between its assets and what is needed to satisfy the estimated lifetime costs of all claims currently stands at an estimated $14 Billion.

Ontario's workplace insurance system is in a transition period until the Harry Arthur's completes his report and plan to reshape the WSIB's financial structure and reduce the unfunded liability which is now close to $14Billion. According to WSIB this is a modest premium rate increase and necessary to stabilize the system's finances. The 2012 rate will be the last ad hoc premium rate setting and the rate decision will not have an impact on 2013 setting and beyond as the recommendations from the Arthur report will follow a different rate setting model. The ORHMA as part of the Employer's Council of Ontario (ECO) coalition has been involved with WSIB discussions and has send in a number of recommendations to Harry Arthur to improve WSIB's finance and ensure that the system's costs are examined in a transparent method to protect future rate increases. The report should focus in developing a plan with timelines to show reduction of the unfunded liability as this is the obstacle to premium rates impacting employers.