Optional Insurance Who might need it? Sole owners, partners, independent operators, and executive officers are not automatically covered under the Workplace Safety and Insurance Act, but can apply for optional insurance. You can download the Independent Operators questionnaire to determine who is considered an independent operator. Spouses and family members who hold positions as partners or executive officers may qualify if they receive earnings from the company. These earnings must be verifiable by audit. What happens when I buy optional insurance? You are then considered a worker under the Workplace Safety and Insurance Act and receive the same coverage as workers (see the benefits summary below for an overview or view benefits in detail in the Benefits section of “For the Worker”). Like other workers, you give up the right to sue for illness or injury sustained because of work. You may want to consult your financial or legal adviser before purchasing optional insurance. How do I get optional insurance? Fill out an Optional Insurance/Change Form (1574A). The form must be signed by an authorized officer for the company (this may be you or someone else in the company). Request the amount of insurance that best reflects your annual insurable earnings up to a maximum of $77,600 for 2010 (this maximum is based on the average industrial wage for Ontario for the year). The WSIB will verify this amount when and if you file a claim. Benefits are based on the amount requested or your actual earnings, whichever is lower. Annual insurable earnings are the amounts usually reported on your workers' pay or wage stubs and on T4 slips as gross earnings. These amounts include Deductions for income tax CPP and employment insurance Insurable earnings can also include earnings not reported on a T4 such as room and board, bonuses and commissions. Submit the completed form to the WSIB. To make a claim and apply for benefits, complete and sign a Form 7 (Employer's Report of Injury/Disease. Submit the form to the WSIB). How long does coverage last? Coverage lasts until you cancel it, or until the WSIB cancels your coverage after giving you thirty days written notice (the WSIB may initiate cancellation if you fail to pay your premiums). Contact your customer service representative or account manager in writing to cancel your insurance. The minimum period you can purchase coverage for is three months. How do I make a claim? To make a claim and apply for benefits, complete and sign a Form 7 (Employer’s Report of Injury/Disease. Submit the form to the WSIB). What if my annual earnings change? You must inform the WSIB of any change in your annual earnings using the Optional Insurance/Change Form (1574A). If your actual earnings are different from your reported earnings at the time of a claim, the WSIB pays benefits based on the lower of the two Where can I find more details on my optional insurance? Since optional insurance treats you like any other worker, you can find details on any aspect of workplace insurance in the appropriate section of this site. You can view a brief summary of workplace insurance benefits on the Benefits Provided to Workers page.