British Columbia Work Comp Rates Up Only 1.2%

The average base premium rate for British Columbia employers in 2003 will rise a modest 1.2 percent to $2.06 per $100 of assessable worker payroll, a three-cent increase from 2002, the Workers' Compensation Board announced Friday. In 1996, the average rate peaked at $2.29. This was followed by four years of average rate reductions and modest increases in 2001 and 2002. The 2003 rate is down 10 percent from the 1996 peak. BC's 2003 rate compares competitively with neighbouring jurisdictions such as Alberta where the average rate will rise more than 12 percent, Washington State ...