The WCB's 2019 Annual Report was tabled in the Manitoba Legislature on May 25th.
The report highlights a new strategic framework and continued gains in making our province safer for workers with the landmark SAFE Work Certified and Prevention Rebate programs.
"Both of these programs have been instrumental in setting the provincial standard for safety and for rewarding and recognizing Manitoba employers for prioritizing workers' safety," said Winston Maharaj, President and CEO of the WCB. "Working together with all stakeholders, we were pleased to see Manitoba workers reap the benefits of safer workplaces by all key measures, including fewer time loss injuries and days lost to workplace injuries."
The financial health of the organization also remained strong with investments rebounding after a downturn in late 2018. As a result, in 2019 the WCB distributed $73 million in surplus reserves back to employers. "We continue to deliver value to our customers by maintaining the lowest average assessment rate in the country," said Maharaj. "Our bedrock is our financial stability that will continue to help the WCB navigate a turbulent 2020 as we, along with so many Manitoba employers and workers, deal with the financial uncertainty around the COVID-19 pandemic."
The WCB ended 2019 with an operating surplus of $120 million and a fund reserve at 146.8 per cent, well above the funding target of 130 per cent. The WCB announced a further distribution of $37 million in surplus reserves back to employers which occurred in May 2020.