The Workplace Safety and Insurance Board will reduce average premium rates for Ontario businesses to $1.23 per $100 of insurable payroll in 2026, down from $1.25 in 2025, the agency announced Friday.
The rate cut will save businesses $60 million compared to 2025 rates, according to the WSIB. The reduction comes as companies face ongoing economic uncertainty and pressure to control costs.
Seventh reduction in decade
This marks the seventh time in 10 years the WSIB has lowered average premium rates, said Jeffery Lang, WSIB president and CEO. Since 2017, rates have dropped by more than 50 per cent.
“We’re proud to do our part to help businesses and contribute to the economic prosperity of Ontario,” Lang said. “We’re able to offer these savings because our team is delivering results, helping people to safely recover and return to work.”
The 2026 rate represents the lowest level in more than 50 years, according to Labour Minister David Piccini.
$21.5 billion in cumulative savings
Premium rate reductions and surplus distributions have generated approximately $21.5 billion in cumulative savings for businesses over the past decade, the WSIB said.
During this period, the agency has expanded coverage and improved services for workers injured or made ill on the job, according to the organization.
“Ontario is laser-focused on keeping costs down for workers and businesses in the face of tariffs and economic uncertainty,” Piccini said. The reduction will save businesses $60 million to reinvest in health and safety improvements, stay competitive and strengthen the economy, he added.
Enhanced digital services
The WSIB continues to add value through a streamlined registration process and expanded online services available 24/7, Lang said. The agency also provides free access to the Canadian Centre for Occupational Health and Safety’s Business Portal.
“We’re helping businesses focus on what matters most – running their business,” Lang said. “It’s easier than ever for businesses to manage their WSIB account, while accessing tools and resources to help them keep their people safe.”
Ontario businesses can access their individual 2026 premium rate statements through the WSIB website starting in November, according to the agency.
