The Ohio Bureau of Workers’ Compensation (BWC), the exclusive provider of workers’ compensation insurance in the state, is allowing insurance premium installment payments due for March, April, and May to be deferred until June 1.
The BWC serves 249,000 public and private employers. The bureau said it made the decision to allow deferred payments in order to help businesses in the state suffering hardships due to the COVID-19 pandemic. The company said the it would reconsider the deferral policy on June 1.
Coverage will not be canceled and penalties will not be assessed by the BWC over premiums not paid during the time period as a result of the current health emergency.
The deferred installment premium payments are estimated to total around $200 million.
Source: Ohio BWC
Topics Workers' Compensation Ohio
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