WSIB Classification: An incorrect classification can cost you money

It is not uncommon for employers to be told by consultants or the WSIB that the best ways to lower their WSIB costs are by (1) accident prevention, and (2) effective claims management. Although both of these activities can and do contribute to lower WSIB costs, there is one other primary step that is often overlooked: business classification.

Make sure that your business is correctly classified to avoid paying too much in premiums. Both your business activities and the WSIB classification system may have changed significantly over the past several years. Some employers may even be entitled to one or more additional classifications.

Even if the WSIB confirms that your classification is correct, it may not be. Many employers successfully appeal their classification(s) after it has been reviewed and confirmed by a WSIB audit. If you have not had your classification reviewed by a firm specializing in WSIB Revenue and Classification issues, you may be paying too much in premiums.

HMT offers a contingency-based WSIB Revenue and Assessment Review to help to ensure that our clients are paying the lowest possible WSIB premiums and assessments. Our track record for appealing Revenue and Classification issues is successful up to and including the WSIAT level.