The Ohio Bureau of Workers’ Compensation board of directors announced a 6% rate cut for private employees effective July 1, 2025. The reduction follows a 7% rate cut for private employers last year.
Ohio’s private employers will pay nearly $60 million less in premiums next fiscal year due to the rate cuts.
Ohio Governor Mike DeWine said the rate cuts are a of businesses adopting a culture of workplace safety.
Overall, the average rate levels for the 258,000 private and public Ohio employers in the BWC system are at their lowest in over 60 years.
“Private employers have received 16 rate reductions in the last 17 years,” said Administrator/CEO Stephanie McCloud.”These rate cuts allow Ohio’s employers to reinvest in their business and their employees.”
The 6% rate cut represents a statewide average. The actual premium change for an individual employer will differ based on multiple factors, including employer type or classification, payroll levels, recent claims history, and their participation in various BWC programs.
Topics Commercial Lines Workers' Compensation Business Insurance Ohio
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