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TORONTO – The Workplace Safety and Insurance Board (WSIB) has announced the average premium rate for Ontario businesses in 2026 will be $1.23 per $100 of insurable payroll, down from $1.25 in 2025.

This reduction will help businesses save $60 million compared to 2025, the board notes.

This marks the seventh time in the last 10 years the WSIB has reduced the average premium rate, bringing it down by more than 50 per cent since 2017.

A release states, 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,” said David Piccini, minister of labour, immigration, training and skills development, in a statement.

“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.”

Ontario businesses can access their individual 2026 premium rate statements through the starting in November.