Funding Policy

Policy Purpose

The Workers Compensation Act (the Act) establishes the Accident Fund to provide for the payment of compensation, outlays and expenses associated with the workers compensation system. The Act also requires that sufficient funds be available for the payment of all current and future liabilities, and the maintenance of reserves sufficient to ensure the financial security of the system in the long term.

This policy provides a framework to guide the Board of Directors' funding and rate setting decisions. Its purpose is to ensure that the statutory objectives outlined above are met.