The Ohio Bureau of Workers’ Compensation (BWC) Board of Directors has voted to modify two tables that impact experience-based rate adjustments for Public Employer Taxing Districts (PEC), effective Jan. 1, 2011.
The credibility table will have maximum value of 65-percent and will have lower eligibility requirements, allowing smaller employers to earn adjustments based on their own claim experience.
For those in group rating, the revised break-even factor table allows them to achieve a maximum discount of 59-percent. PECs include approximately 3,900 cities, counties, villages, townships, schools and special districts.
The vote aligns the PEC credibility table with that of private employers, which was established by the Board earlier this year, and becomes effective July 1, 2010. The break-even factor is applied in conjunction with the credibility table to assist BWC in setting rates for all PECs that reflect their level of risk.
Source: Ohio BWC
Was this article valuable?
Here are more articles you may enjoy.
Damaged Manhattan Tower Owner to Reconstruct 15 Floors After Evacuation 
Fla. Supreme Court Reverses Lower Court on Compensability of a Workplace Shooting 
Honda’s Insurance Agency Operations Stall, Services ‘Paused’ 
Farmers to Pay $2.8M to Settle TPCA Class Action Lawsuit 
