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Oklahoma official credits legislation for decrease proposal
Bipartisan legislation passed earlier in the year "is beginning to reap rewards for Oklahoma," according to Insurance Commissioner John Doak. He made the statement in announcing a proposed 1.7 percent decrease in workers' comp rates.
The National Council on Compensation Insurance proposed the reduction, effective January 2012. The Oklahoma Insurance Department will review the proposal. If approved, it would "stem the historic tide of rate increases to workers' comp rates," according to a department statement. "Prior to passage of S.B. 878, rates were anticipated to rise again." Doak called passage of S.B. 878 a "good first step toward an ongoing reform process" and said the department looks toward continued improvements in the workers' comp system in the next legislative session.
September 15, 2011 Copyright 2011© LRP Publications |
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