Ontario’s workplace insurance board will lower its average employer premium rate to $1.18 per $100 of insurable earnings in 2027, down from $1.23 this year.

The Workplace Safety and Insurance Board announced the change October 22. It estimates the reduction will leave $160 million in Ontario’s economy and says more than 80 per cent of businesses will receive a rate cut.

The province-wide average does not determine every employer’s bill. WSIB’s guidance says individual rates reflect a business’s experience relative to its industry class. Employers will be able to view their own 2027 statements online starting in November.

Another budgeting detail matters: the maximum insurable-earnings ceiling rises to $126,700 in 2027 from $121,700 in 2026. A lower average rate should therefore not be treated as a guaranteed percentage reduction in every business’s total premium.

WSIB presents the change as relief during trade uncertainty. Its savings estimate describes an expected economic effect, not a verified tally of new jobs.

Sources: WSIB’s October 22 release and 2027 rate guidance.

Editorial illustration of workplace-insurance budgeting.