WSIB Insurance Premium Payment Deferral provides Employer Financial Relief – Updated March 30/20

As part of the Ontario’s Action Plan: Responding to COVID-19, the provincial government has introduced a new relief measure to assist employers through financial strain in relation to COVID-19.

Included in the province’s plan is relief from employer payments to the Workplace Safety Insurance Board (WSIB).  All employers covered by the WSIB are automatically eligible for this relief and will not be required to apply to receive the benefits, which include:  Schedule 1 employers will be able to defer premium reporting and payments for six months – i.e. until August 31, 2020 — with no negative consequences;

  • The WSIB will cease interest accrual on all outstanding premium payments;
  • The WSIB will not impose penalties during the six-month deferral period; and
  • The WSIB will maintain full coverage for all workers of eligible workplaces.

The relief package also applies to Schedule 2 organizations – publicly funded organizations (municipalities, hospitals, school boards), and other businesses who are involved in federally regulated industries. All payment obligations (weekly and monthly) for Schedule 2 businesses will be deferred until August 31, 2020. 

No interest will accrue on outstanding premium payments and no penalties will be charged during this six-month deferral period.   

We will continue to update our clients with information as soon as it becomes available. If you have any questions about this topic, or other COVID-19 related questions, please do not hesitate to contact a Mathews Dinsdale lawyer, or refer to the Firm’s COVID-19 website resources.

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