The Workers Compensation Board of Manitoba (WCB) maintains a reserve fund to protect employers and workers while ensuring a stable workers compensation system. This reserve fund is currently higher than the target set in our funding policy. As a result, in May of 2020, we are distributing surplus funds to employers, whose premiums fund the workers compensation system.
As a result of the COVID-19 pandemic and the state of emergency declared by the Province of Manitoba, businesses are experiencing dramatic changes as they attempt to apply social distance strategies in the workplace, and in some circumstances, have extended continuance pay or potentially issued temporary lay-offs.
Given the economic uncertainties, businesses may be challenged with cash flow and require temporary relief from their WCB payment obligations. In response, the WCB of Manitoba will:
The amount that employers report, per worker, is subject to a cap or maximum assessable earnings level. You are not charged a premium on the portion of a worker’s earnings that exceeds the maximum assessable earnings level.
NOTE: There is no minimum assessable earnings level for workers.
Workers’ compensation coverage protects workers and employers from the impacts of workplace injuries and illnesses. The funds needed to cover the cost of WCB benefits and services are collected from registered employers in the form of premiums. Like other insurance premiums, WCB premiums are based on a combination of the risk of incurring claims costs and the value of what is insured.