Ohio private employers will again benefit from lower overall workers’ compensation base-rates with a 6.3 percent reduction that will take effect July 1, the Ohio Bureau of Workers’ Compensation (BWC) announced.
The reduction brings combined collections over the last four years down by $409 million.
Private employers previously benefited from a 4 percent rate decrease in 2011, no change in 2012 and a reduction of 2.1 percent last year. The actual premium paid by individual private employers depends on a number of factors, including the expected future costs in their industry segment, their recent claims history, and their participation in various discount and savings programs.
Source: Ohio BWC
Topics Commercial Lines Workers' Compensation Business Insurance Pricing Trends Ohio
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