How are base rates calculated?
WorkSafeBC uses a classification and rate making system to ensure the costs of compensation are fairly distributed. Employers in industries with similar claim costs pay similar base rates. To ensure that rates remain stable, we combine similar industries into rate groups. Then, we estimate the total claim costs for each rate group and divide that by the group’s estimated total assessable payroll. Employers in all rate groups also contribute to reserves for enhancement, disaster, and administration.
