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2011 - Rate Group EG

2011 Actuarial rate: $1.94 (per $100 of assessable payroll)

Actuarial rate history:
2011:   $1.94
2010:   $3.42
2009:   $3.26

Industry group: EG01
Classification unit:
CU # CU name 2011 Rate 2010 Rate
732012   Distribution Centre    $2.66 $3.31

Industry group: EG02
Classification unit:
CU # CU name 2011 Rate 2010 Rate
731005   Warehouse Operation    $2.51 $3.13

Industry group: EG03
Classification unit:
CU # CU name 2011 Rate 2010 Rate
731004   Recycling Depot    $3.03 $3.77

Industry group: EG04
Classification unit:
CU # CU name 2011 Rate 2010 Rate
732003   Aircraft Handling or Fueling    $2.86 $3.60

1 Newly created classification unit.
2 New member for this industry group.

 

Cost components for Rate Group EG

The information presented below for this rate group provides a breakdown of the various costs involved in determining the actuarial rate. WorkSafeBC generally limits any resulting rate changes to 20 percent to dampen the financial impact to industry groups which might be significantly affected. Please refer to this rate group's main page to determine base rates for member classification units.

  2011   2010  
Cost rates Rate   Rate  
        Short term disability 0.770   0.852  
        Long term disability 0.477   0.675  
        Survivor benefits 0.011   0.047  
        Health care 0.640   0.728  
        Vocational rehabilitation 0.096   0.131  
  ------   ------  
Average benefit cost rate 1.99 * 2.43 *
Claim administration 0.48   0.50  
Accident fund adjustment 0.35   0.40  
Penalty and ER imbalance adjustment -0.07   -0.10  
Other administration costs 0.32   0.38  
  -----   -----  
Total cost rate 3.07   3.61  
Amortization adjustment -1.13   -0.19  
  -----   -----  
Actuarial rate (per $100 of assessable payroll) 1.94   3.42  
 
(Without adjustments for direct charges relating to industry-funded initiatives, prevention inspection exemptions, or funding policy requirements, if applicable.)
* Rounded to two decimal places

 

Key trends for Rate Group EG

These graphs show trends in the performance of your rate group. To see a consolidated five-year performance picture, see your multi-year trend information.

To understand the terminology used in these graphs, view the explanation of trend terms.

For further interpretation of these graphs, contact WorkSafeBC.

 

Multi-year trend information for Rate Group EG

What trends is your rate group experiencing? This chart provides a history of your rate group's performance.

To understand the terminology used in this chart, view the explanation of trend terms.

Key indicators  2005 2006 2007 2008 2009 Change 2005-2009 Change 2008-2009
Injury rate 12.9 11.9 10.8 10.5 8.2 -36.4% -21.9%
Total duration 38.3 36.4 34.7 38.6 42.3 10.4% 9.6%
Average weekly wage $560 $604 $611 $640 $669 19.5% 4.5%
Number of claims 649 632 617 582 446 -31.3% -23.4%


Cost history  (in thousands) 2005 2006 2007 2008 2009 Change 2005-2009 Change 2008-2009
Short term disability $2,075 $1,442 $1,789 $1,819 $1,666 -19.7% -8.4%
Long term disability $985 $481 $1,083 $1,397 $1,197 21.5% -14.3%
Survivor benefits $6 $13 $28 $18 $34 466.7% 88.9%
Health care $1,408 $807 $1,365 $1,785 $1,626 15.5% -8.9%
Vocational rehabilitation $100 $96 $240 $231 $271 171.0% 17.3%
Total costs $4,574 $2,839 $4,505 $5,250 $4,794 4.8% -8.7%


Rate data  (in millions) 2005 2006 2007 2008 2009 Change 2005-2009 Change 2008-2009
Assessable payroll $167 $184 $201 $210 $199 19.0% -5.5%
Accumulated payroll $208 $217 $226 $224 $205 -1.4% -8.8%


Benefit cost rate  2005 2006 2007 2008 2009 Change 2005-2009 Change 2008-2009
(Per $100 of payroll) 2.20 1.31 1.99 2.34 2.34 6.4% 0.0%

Average benefit cost rate for calculating the 2011 base rate: $1.99
Number of years used to calculate average benefit cost rate: 4