The Ohio Bureau of Workers’ Compensation (BWC) has reduced its rates for marine industry employers by 20 percent, effective July 1, the BWC said. The change lowers the rates for employers conducting business on Ohio waterways that subscribe to the Marine Industry Fund.
Ohio ranks 7th among the 50 states in longshore and harbor worker activity based on total tons of waterborne domestic cargo handled through a state’s ports.
The Marine Industry Fund provides coverage for injuries, disease and death resulting from longshore and harbor worker duties for Ohio employers with employees who work on or about navigable waters, as required by the Federal Longshoremen and Harbor Workers’ Act.
The Act requires employers with workers engaged in maritime employment to have this type of insurance. This includes pier, wharf, dry dock, terminal, building way, marine railway and other adjoining areas customarily used by an employer in loading, unloading, repairing, or building a vessel.
Ohio employers may choose to participate in the Marine Industry Fund, purchase insurance from a private carrier, or self insure if approved by the U.S. Department Labor.
Source: Ohio BWC
Topics Trends Commercial Lines Workers' Compensation Business Insurance Pricing Trends Ohio
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