2021ANNUAL REPORTHonourable Reg Helwer Minister of Labour, Consumer Protection and Government Services Room 343, Legislative Building Winnipeg, MB R3C 0V8Dear Minister Helwer:We are pleased to present our 2021 Annual Report and Five Year Plan in accordance with the provisions of The Workers Compensation Act. This report covers the 12-month period from January 1 to December 31, 2021. It includes the statements of accounts required to be kept under the Act.Respectfully submitted, Michael D. Werier ChairLetter to the MinisterTable of Contents5 About the WCB6 Message from the Chair8 Message from the President and CEO10 Board of Directors and Board Committees11 Vision, Mission and Values12 Create a SAFE Work Culture16 Enable Successful Return to Work20 Deliver Excellent Service24 Grow Our People26 Year at a Glance28 Statistics and Measures34 Fair Practices OfficeFinancial Report 34 Management’s Responsibility for Financial Information35 2021 Management Discussion and Analysis42 Actuarial Opinion43 Actuarial Review44 Independent Auditor’s Report46 Consolidated Statement of Financial Position86 Five Year PlanAbout the WCBThe Workers Compensation Board (WCB) is a mutual workplace injury and disability statutory corporation funded by employer premiums.With approximately 600 employees, we are here to insure and support safe and healthy work and workplaces. We put workers and employers at the centre of all we do. We provide them with valued services for injury prevention, compensation and return to health and work while maintaining the integrity of the system.Services and Benefits for Injured WorkersIf people are hurt or become ill as a result of their work, the WCB is here to help, offering a wide range of benefits to assist injured workers and help ensure a safe and suitable return to work. Some of the benefits offered include:• replacement of lost income• payments for healthcare treatments and medication• employment retraining• lump sum payments for permanent impairments• financial support for partners and children in the event of a workplace fatality.As part of the WCB’s commitment to quality service and fair process, injured workers, their dependants and employers may contact the Fair Practices Office (FPO), an independent office that works to ensure fair practices at the WCB. Further information is available at www.fairpracticesofficemb.ca.2021 WCB ANNUAL REPORT 5Message from the ChairThe challenges of the COVID-19 pandemic continued in 2021, impacting our customers in a myriad of ways, from front line workers continuing to serve their fellow Manitobans to Manitoba employers being forced to shut their doors to help combat the spread of the virus. Through all the changes and fluctuations of restrictions imposed in Manitoba, the WCB continued to provide excellent customer service to injured workers and employers.On February 1, the WCB welcomed a new President and CEO, Richard Deacon, a strong leader with a proven track record of developing and implementing long-term strategy to drive transformation. The Board of Directors is confident he will be a tremendous asset to the WCB and successfully support and execute our mission of providing our customers with valued services for insurance, prevention, compensation and return to work, while maintaining the integrity of the system. The Board of Directors continued to establish the strategic direction, approve policies and monitor the progress the organization made in reaching its strategic goals throughout 2021. The Board of Directors was especially busy with policies as a result of Bill 18, The Workers Compensation Amendment Act, which received Royal Assent in 2021 and came into force on January 1, 2022. A record-setting number of new policies have been approved in an effort to simplify and streamline our stakeholder experience, including Reconsiderations, Recurring Effects of Injuries and Illnesses and Compliance and Enforcement to name a few. The changes to the Act also led to amendments to the WCB’s regulations, including the Group Life Insurance Regulation and the Interest, Penalties and Financial Matters Regulation. With these changes, the WCB continues to reduce the regulatory burden on Manitoba stakeholders. 6 2021 WCB ANNUAL REPORTOur CustomersWorkers Covered73%Registered Employers39,240As part of Bill 18’s governance structure amendments, we also completed work to prepare for a new Prevention Advisory Council that replaced the Prevention Committee at the end of the year. We shared the news with our key stakeholders – industry-based safety programs – and look forward to continuing to strengthen the safety culture in Manitoba with these changes. The Board of Directors extends their thanks to the external members of the Prevention Committee, Neal Curry, Rick Farley and Richard Groen, for their expertise and service over the past year. The Board of Directors also said farewell to Elizabeth Roberts, a long-term representative of the public interest and looks forward to welcoming a new member in 2022. We were also pleased to have Nestor Theodorou renew his commitment to serve as an external member of our Investment Committee.While Manitoba’s economy was impacted by the pandemic, the strong financial stewardship over the years helped the WCB weather these tumultuous times. In fact, the efficiency of the workers compensation system was evident when the Board of Directors approved, for the third year in a row, a $71 million surplus distribution to eligible employers. 2021 was a year in constant flux and yet the WCB continued to serve Manitoba employers and workers. The Board of Directors extends its appreciation and thanks to the management and staff who made it their mission to provide service that is both compassionate and respectful under trying times and for ensuring we live our vision of A safer Manitoba that fosters prevention and return to work.Michael D. Werier Chair2021 WCB ANNUAL REPORT 7Message from the President and CEOFocus on the futureFor me, 2021 was a year of profound change – both personally and professionally. I relocated and joined the WCB in February and was warmly welcomed to the organization and to Manitoba. I want to say a special thank you to the WCB’s Board of Directors and the leadership team for their guidance and support over the last year. I am very proud of our organization and all the work that we do. The WCB’s commitment to service is what attracted me to the WCB. Our employees take great pride in working with, and for, their fellow Manitobans. Thanks to the dedication and commitment of our entire team, we continued to deliver our services to our customers, employers and workers across this province, despite the challenges of the pandemic and the continuously shifting operating environment. No doubt, the pandemic has taught us a lot both as individuals and as an organization, but most importantly, it has provided us with the opportunity to learn, adapt, build resiliency and enhance the way we do things. As we move forward and look to the future, we are committed to building on what we’ve learned to evolve our organization, strengthen our mandate and reset for the future – together. If we’ve learned one thing, it’s that maintaining the status quo is not an option. While we are proud to be a century-old organization, we must continue to strive to be on a path of continuous improvement. This means finding new ways of doing things to adapt to our environment and meet the needs of our customers. While the global pandemic drove many of the impacts and storylines of 2021, the WCB continued to adapt and remain focused on delivering on our core mission of serving Manitobans. 8 2021 WCB ANNUAL REPORTReducing Employer PremiumsAverage assessment rate per $100 of assessable payrollTarget$0.952021$0.95Looking ahead, we are committed to driving positive change through innovation and collaboration to better serve Manitoba employers and workers. Above all, our focus is on being customer-centric and to deliver on this ambitious promise we will be adopting new technologies, processes and mindsets so we can continue to be responsive and adapt to a changing environment. To that end, we are embarking on a digital reinvention over the next several years with a simple goal: to deliver a service experience that can best be characterized as being what is needed, when it is needed, in the way it is needed. As a safety leader in this province, our core purpose remains unchanged. We will continue to demonstrate a safety culture and be a model of safe work practices and procedures. We will also continue to help people get back to work safely. And we will continue to strengthen our business, building on our foundation to create an even stronger WCB for the future. Richard Deacon President and CEO2021 WCB ANNUAL REPORT 9Next >