The average 1.9 percent increase in the pure premium rate was based on a recommendation from the National Council on Compensation Insurance and goes into effect in January. It follows a cumulative decrease of nearly 63 percent since 1990.
Officials with the Oregon Department of Consumer and Business Services say workers' comp costs remain low for employers in the state compared to other states. They say improvements to workplace safety and the decline in the injury and illness rates have kept rates down. However, they said the number of workers' comp claims filed has started to level off.
The regulators also announced a proposed decrease -- from 6.4 percent to 6.2 percent -- in the workers' comp premium assessment that pays for the department's administration of workers' comp and workplace safety programs. The Workers' Benefit Fund assessment, which pays for special benefits for injured workers and their employers, will remain at 2.8 cents per hour worked in 2012.
Read more at the WorkersComp Forum homepage.
October 27, 2011
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