The financial stability of Ontario’s Workplace Safety and Insurance Board (WSIB) is being restored by a radical restructuring plan, which rescued the organization from bankruptcy and decades of mismanagement, says its president. “When I took over in January 2010, our organization WSIB was really in a dark place,” said David Marshall, WSIB president and chief executive officer.
“The story I am going to go over with you is really a story of an historic transformation. It isn’t one person that takes credit for this change, it is a team effort, with employers, ourselves and all of our stakeholders.”
Marshall shared this WSIB story on Feb. 26 during his keynote address at the annual general meeting of the Council of Ontario Construction Associations (COCA) held in Woodbridge, Ont. at the main office and training centre of the Interior Systems Contractors Association.
Marshall’s story began with an explanation of the failure of WSIB management to eliminate its unfunded liability by 2014, which was a target date set in 1984. The unfunded liability was estimated to be $14 billion in 2010.
RICHARD GILBERT – DAILY COMMERCIAL NEWS – March 10, 2015.
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