Ohio frequency decline, positive investment returns lead to rate cut proposal
Workers' comp rates for Ohio employers may be reduced by 4 percent for the July 1 policy year. The Bureau of Workers' Compensation's board of directors will consider the proposal from Gov. John R. Kasich.
Kasich's office said a moderating trend of claims frequency and positive investment returns were factors in the decision to propose the lower rates. He said the goal is to increase premium stability and lower costs for employers.
Meanwhile, it remains to be seen whether Kasich will pursue privatizing the workers' comp system. Ohio is one of only a handful of states that does not allow private insurers to offer workers' comp coverage.
The governor has intimated he may look more closely at the idea of privatization during the second half of the year.
Read more at the WorkersComp Forum homepage.
May 19, 2011
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