Who is responsible for paying premium costs for Workers Compensation insurance?

In the context of Workers’ Compensation insurance, the responsibility for paying premium costs lies with the employers. This system is designed to provide coverage for employees in the event of work-related injuries or illnesses. The costs associated with this insurance are typically calculated based on the risk level of the business operations and the total payroll, and it is the employer’s legal obligation to procure and maintain this insurance for their employees.

Employees benefit from Workers’ Compensation coverage as it provides them with medical care and compensation for lost wages without the need to prove fault or negligence. This creates a level of financial protection for workers, allowing them to receive benefits even if the employer is not at fault for an injury.

While there can be instances of shared costs in certain situations regarding benefits or additional programs, the main responsibility for the premiums specifically rests with the employer, ensuring that the insurance is readily accessible to employees when needed. The Workers’ Compensation Board plays a regulatory role and does not directly pay these premiums; rather, its function is to oversee the administration and compliance of such programs.