Annual Report 2006 - wsib

There really are no accidents.
Ten-year history
Ten-year summary of the statements of operations and unfunded liability
($ millions) 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997
Revenues
Premiums for current year $2,385 $2,256 $2,124 $2,068 $1,997 $1,866 $1,760 $1,707 $1,722 $1,886
Investments 1,298 819 470 456 246 765 1,128 1,042 982 839
Other income 3 3 49 – – – – – – –
Expenses
3,686 3,078 2,643 2,524 2,243 2,631 2,888 2,749 2,704 2,725
Benefit costs paid 3,280 3,197 3,101 2,996 2,883 2,755 2,558 2,195 2,255 2,244
Net increase/(decrease) in
benefit liabilities 1,050 840 950 495 692 270 125 135 (85) (1,740)
Loss of Retirement Income Fund 69 66 60 56 52 50 46 44 44 43
4,399 4,103 4,111 3,547 3,627 3,075 2,729 2,374 2,214 547
Administrative and other
expenses 221 203 204 210 240 236 247 387 336 341
Legislated obligations 208 200 188 172 160 162 156 145 125 117
4,828 4,506 4,503 3,929 4,027 3,473 3,132 2,906 2,675 1,005
Excess/(Deficiency) of
revenues over expenses from
current operations (1,142) (1,428) (1,860) (1,405) (1,784) (842) (244) (157) 29 1,720
Premiums for unfunded liability 1,000 934 1,017 861 902 860 971 1,061 930 683
Transfer of Electrical Utilities from
Schedule 2 – – – (52) – – – – –
Excess (deficiency) of revenues
over expenses (142) (494) (843) (544) (934) 18 727 904 959 2,403
Unfunded liability, beginning
of year (6,510) (6,420) (7,135) (6,591) (5,657) (5,675) (6,402) (7,098) (8,057) (10,460)
Effect of change in accounting
policy 0 1,088 – – – – (208) – –
Other comprehensive income 655 404 470 – – – – – – –
Excess of expenses over revenues (142) (494) (843) (544) (934) 18 727 904 959 2,403
Unfunded liability, end of year (5,997) $(6,510) $(6,420) $(7,135) $(6,591) $(5,657) $(5,675) $(6,402) $(7,098) $(8,057)
Other statistics
Schedule 1
2006 2005 2004 2003 2002 2001 2000 1999 1998 1997
Average premium rate
(per $100 of payroll) $2.26 $2.19 $2.19 $2.19 $2.13 $2.13 $2.29 $2.42 $2.59 $2.85
Total insured payroll
($ millions) 140,912 $135,865 $130,398 $125,638 $120,252 $113,727 $109,237 $101,654 $96,205 $91,497
Schedule 1 & 2
Number of new claims, by
registration year 336,851 352,996 352,474 354,926 361,179 371,067 379,079 364,069 342,687 341,178
Schedule 1 & 2
Number of WSIB employees as of
December 31 4,283 4,363 4,411 4,276 4,390 4,513 4,466 4,260 4,057 3,966
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WORKPLACE SAFETY AND INSURANCE BOARD Annual Report 2006