Canada’s WCB Notes Positive Numbers in 2004 Claims Costs, Accident Rates

The Workers’ Compensation Board of the Northwest Territories and Nunavut has released its 2004 Annual Report.

Success indicators in the report include a reduction in claims costs and accident rates, and a number of positive WCB initiatives heading into the 2005.

The number of claims reported has decreased by 8 percent compared to 2003. Workplace accidents are declining and the average actual assessment rate for 2004 was $1.82 per $100 of assessable payroll, one of the lowest in Canada. This included a 20 percent discount on rates to all employers.

“We are currently in an excellent funded position at 116 percent due to our return on investments,” said WCB President and CEO David Clark.