Business Owners Urge Workers’ Compensation Boards to Return $4.9 Billion in Excess Funds

Six Canadian workers’ compensation boards currently hold a surplus of $4.9 billion that should be returned to small business owners, the Canadian Federation of Independent Business says. Workers’ compensation boards (WCBs) in British Columbia, Manitoba, Ontario, New Brunswick, Prince Edward Island, and the Yukon have all exceeded their funding targets—yet only one of the “overfunded” boards legislates mandatory returns to employers, according to the Canadian Federation of Independent Business’s (CFIB) latest research snapshot. Nine out of the 12 Canadian boards have a policy to return surplus funds to business owners, but only the Ontario government has legislated mandatory rebates under set targets, the report said....