The workers' compensation boards are in an even better position than you are since they set their own income. They have the power to set the assessment rates on employers at whatever rate they feel is necessary. If the assessment rates are too low then they can set them higher. Sometimes provincial governments interfere with this process but most boards are free to set their own rates. Employer lobbying has had a downward effect on the assessment rates.
Different industries pay different assessment rates depending on their hazard.
Canadian workers' compensation rates are substantially lower than the U.S. rates even though benefits are at least twice as much even in provinces with the lowest benefit levels. WCB assessments are a cheap form of insurance with low administration costs compared with private sector insurance companies. Within the larger provinces, the WCBs' unfunded liabilities are of little importance since these future obligations can be met by future employers'' assessments. The reason they are of concern is simply that they are being used as a political footfall by employers who are intent on gutting our workers' compensation system. If they were genuinely concerned about the financial viability of the WCBs, they would acknowledge that past employer assessment rates have been too low and would agree to have current assessment rates increased.