The Workplace Safety and Insurance Board (WSIB) announced last week that it will lower the average premium rate for Ontario businesses for 2026 from $1.23 per $100 of insurable payroll, down from $1.25 in 2025.

The board says the reduction will help businesses save $60 million compared to 2025, as they face ongoing economic uncertainty.

“We’re proud to do our part to help businesses and contribute to the economic prosperity of Ontario,” said Jeffery Lang, WSIB President and CEO. “We’re able to offer these savings because our team is delivering results, helping people to safely recover and return to work.”

The news marks the seventh time in the last ten years the WSIB has reduced the average premium rate, bringing it down by more than 50 percent since 2017.

In total, average premium rate reductions and several surplus distributions have resulted in cumulative savings for businesses of approximately $21.5 billion over the last decade.

“Ontario is laser-focused on keeping costs down for workers and businesses in the face of tariffs and economic uncertainty. This reduction to WSIB’s average premium rate – the lowest in over 50 years – will save businesses $60 million to reinvest in health and safety improvements, stay competitive and strengthen our economy,” said Labour Minister David Piccini.

Businesses can access their individual 2026 premium rate statements on the WSIB’s website starting in November.