Yukon Workers’ Compensation Health and Safety Board prepared for the future
June 6, 2019
At its annual information meeting today, the Yukon Workers’ Compensation Health and Safety Board (YWCHSB) discussed its 2018 annual report and highlighted its work to modernize the Workers’ Compensation Act and the Occupational Health and Safety Act.
The 2018 annual report, available at wcb.yk.ca/annualreport, highlights YWCHSB’s success in bringing the Compensation Fund—which provides compensation to injured workers—to very near its target range of 121 to 129 per cent.Thanks to the organization’s hard work and prudent financial management, at the end of 2018 the Compensation Fund sat at 132 per cent. See ‘Quick Facts’ on the following page for more information about the Compensation Fund and the 2018 annual report.
The Occupational Health and Safety Actand the Workers’ Compensation Actrequire considerable modernization to align with twenty-first century workplaces. Earlier this year Minister Jeanie Dendys formally requested a full review of both acts. YWCHSB has also been asked to update theOccupational Health and Safety Regulations. This may include a proposed new regulation to prevent violence and harassment in the workplace and proposed changes to the existing regulations about hazard assessment so they are easier to understand.
“The Yukon Workers’ Compensation Health and Safety Board is financially healthy, operating efficiently and well-prepared for the future. We are proud of the hard work we have undertaken to bring the Compensation Fund to very near its target range. It is a significant accomplishment and means we are prepared to support the community’s needs now and well into the future.”
-Board of Directors Chair, Mark Pike
“2018 marked the first year of a new century for Yukon’s workers’ compensation system. As we step into this century, change is inevitable. We are ready to continue working to serve employers, educate the public, collaborate with our stakeholders and care for injured workers.”
-President/CEO, Kurt Dieckmann
- YWCHSBcovered 23,550 workers in 2018, 190 more than in 2017.
- There were 3,805 employers registered with YWCHSBin 2018, 29 fewer than in 2017.
- YWCHSB accepted 997 injury claims in 2018, 48 fewer than in 2017.
- YWCHSBreceived 46 mental health claims in 2018, 10 more than in 2017.
- Of the 15 psychological injury claims accepted, four involved post-traumatic stress disorder.
- Claims costs were $22.1 million in 2018, a decrease of $3.5 million over 2017.
- The lost-time injury rate continues to fall on average. It was down to 1.8 in 2018. This figure represents the number of workers compensated for wage loss arising from an injury out of a population of 100 covered workers.
- The benefits liability was $155.5 million in 2018, an increase of approximately 2.9 per cent over 2017. This figure is a measure of the future costs needed to fully care for every injured worker in the compensation system at the end of 2018.
- The CHOICES Incentive Program returned over half-a-million dollars to employers.
- The outreach and education unit reached approximately 5,600 people in the Yukon in 2018, a 19 per cent increase over 2017.
The Compensation Fund
- Yukon employers share collectively in the obligation to provide compensation to injured workers by contributing to the Compensation Fund (the Fund). Funding policyrequires the funded position is kept between 121 and 129 per cent of total liabilities.
- In 2014, the Fund hit a high of 160 per cent, largely due to success with investments and the commitment to preventing disability by our stakeholders and staff.
- In 2018, YWCHSB distributed $5 million in the form of a rebate. This was the fourth rebate in as many years.
- Over a multi-year effort to return the Fund back to its target range, YWCHSB has distributed over $60 million to Yukon employers through rate reductions and surplus distributions.
- The system’s funded position was 132 per cent at the end of 2018, very near the target range of between 121 and 129 per cent.
Acts and Regulations