Over the past year my business has grown and wages have increased significantly. Can I apply for a downward premium adjustment if my new premium percentage rate is more than 30 per cent higher than my old rate?

Yes. If your premium percentage rate under the new premium formula is more than 30 per cent higher than your rate under the old formula, then your insurance agent will refer the matter to us and, where applicable, a downward adjustment will be applied to the premium.

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