An assessment rate of direct earned premium is necessary for the Oregon Department of Consumer and Business Services to carry out its statutory responsibility to regulate, administer, and enforce the workers’ compensation and occupational safety and health laws of the state, the department announced last week.
The assessment, effective Jan.1, funds the operations of the Workers’ Compensation Division, the Workers’ Compensation Board, most of Oregon-OSHA, part of the Insurance Division, and other parts of the Department of Consumer and Business Services that support these activities.
An additional assessment of 0.2 percent for self-insured employers and self-insured employer groups is required to fund the Self-Insured Employer Adjustment Reserve and the Self-Insured Employer Group Adjustment Reserve, the department stated.
These rates apply to all premium earned on or after Jan. 1, 2012. On Nov. 18 the department will mail the attached notice to Oregon employers announcing the average pure premium rate, Workers’ Benefit Fund assessment rate, and premium assessment rate.
Topics Commercial Lines Workers' Compensation Business Insurance
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