WSIB Suffers Loss

Ontario's Workplace Safety and Insurance Board is blaming the recession for its deteriorating financial results and a more than $3 billion loss last year.

The WSIB, which collects premiums from employers and provides benefits to injured workers, says it took in $2.4 billion less than it paid out in benefits and other expenses in 2008.

That's more than double the shortfall the WSIB reported in 2007.

However, the WSIB says the shortfall won't threaten its ability to provide benefits to workers.