WorksafeBC

WorkSafeBC administers the Workers Compensation Act for the British Columbia Ministry of Labour. WorkSafeBC has the legal authority to set and enforce occupational health and safety standards, assist injured or disabled workers, and assess employers and collect funds to operate WorkSafeBC.

Every firm registered with WorkSafeBC is assigned a classification unit based on their main business undertaking. Others with similar businesses will share the classification unit, and they'll all pay the same base premium rate for their insurance. For 2018 the lowest base rate is 1.55% on assessable payroll (wages, salaries, etc). This rate can exceed 6% depending on the classification.

WorkSafeBC is a very specific program when it comes to calculating rates. We will not go into any further discussion about it till we bring it up again in "Government Resources".