Ohio New Employer Comp Program Approved

The Ohio Bureau of Workers’ Compensation (BWC) board of directors has approved the creation of Grow Ohio, a program targeted toward job creation by lowering workers’ comp costs for employers new to Ohio, agency announced. The program could reduce premiums by as much as 51 percent for employers new to Ohio since July 1. Under Grow Ohio, new employers will receive the 25 percent discount on their workers’ compensation premiums unless they elect to participate in another program incompatible with the Grow Ohio discount. Employers can instead choose to immediately participate in the Group Experience Rating Program, which normally is not accessible to new employers until the first full policy year following the date they obtain workers’ comp coverage. Participation in group rating could reduce employers’ premiums up to the maximum allowable amount, currently 51 percent.

Topics Commercial Lines Workers' Compensation Business Insurance Ohio