Ohio’s fund for injured workers wants to return more than $1 billion of its investment earnings to the state’s 200,000 private and public employers.
The Ohio Bureau of Workers’ Compensation proposed the rebate on March 13. It amounts to two-thirds of the premiums that employers paid in the policy year that ended last June.
The proposal must be approved by the BWC’s board. A decision is planned next month. If approved, checks could be issued in July.
The bureau says the proposal is a result of better-than-projected investment returns and strong financial management.
Republican Gov. John Kasich says the state has created a better “climate for success” by trying to reduce workers’ compensation costs and investing in workplace safety efforts.
Topics Commercial Lines Workers' Compensation Business Insurance Ohio
Was this article valuable?
Here are more articles you may enjoy.
After 55 Years in Florida Insurance, Tom Lynch Reflects on Agencies, Changes Needed 
Zurich CEO Says Staff Let Go as Regulator Finma Imposes Partial Sales Ban 
Why El Niño’s Promise of Quieter Hurricane Season May Not Be Good News for Insurers 
Record-Low Danube Water Levels Leave Boats Beached, Reveal Decades-Old Shipwrecks 
