On February 1, we announced the 2018 provisional administration rates for Schedule 2 employers.
Schedule 2 employers are 'self-insured' and are individually liable for the full costs of their employees' claims. The WSIB pays insurance benefits for Schedule 2 claims and is reimbursed by Schedule 2 employers for costs.
The Schedule 2 provisional administration rates reflect the anticipated administration costs for the year for administering these benefits.
After the year ends, we will determine the actual administration rate based on real experience. We do this once the financial statement audit process is completed. We'll then issue an adjustment to reflect the difference between the actual and provisional administration rates to employers.
As well, in March we hosted a technical rate session webinar to explain the 2018 provisional administration rates. Thank you to all the employers who participated in this session.