Integrity

We will protect the integrity of the system.

OUR GUIDING PRINCIPLE

As a trusted steward, we are dedicated to building a strong, stable and sustainable system. While financial sustainability is a key component, system integrity also includes good governance, privacy protection, modern technology, cybersecurity and sound legislative foundations.

headshot of Phil

“Success starts with integrity. If we work with integrity, our colleagues and stakeholders will trust and respect us. ”

– Phil Traverse
Manager, Division Support

Objectives

Effect good governance, including sound legislative and policy frameworks, transparent stakeholder engagement and communication.

policy
risk-management

Advance and leverage our capabilities in enterprise risk management and quality assurance.

Create a culture of accountability.

accountability
policy

Effect good governance, including sound legislative and policy frameworks, transparent stakeholder engagement and communication.

risk-management

Advance and leverage our capabilities in enterprise risk management and quality assurance.

accountability

Create a culture of accountability.

Measure

fund-position

Funding position

Under the Workers’ Compensation Act, a minimum funding level of 100% is required to ensure sustainability, with any shortfall to be recovered within 15 years. In October 2019, WorkSafeNB set a funding level target to reduce the impact of year-to-year fluctuations. This intended excess of assets over liabilities provides for more stable assessment rates for employers and assurance that funds for benefits will be there for injured workers when needed.

target

Annual target: 115%-125%