Oregon insurance regulators say they’ve stopped moving to decertify a workers’ compensation self-insurance trust after the group increased its security deposit.
The Department of Consumer and Business Services said Monday that the Oregon Employers Trust Inc. submitted a letter of credit from a bank. The state had earlier threatened to decertify the trust unless it could increase its security deposit by $750,000 to $3.95 million.
Oregon Employers Trust is the state’s largest private group of employers that self-insure for workers’ compensation. It includes about 200 companies.
State officials say the security deposit ensures the trust can pay benefits for workers facing job-related injuries or illnesses.
Topics Workers' Compensation Oregon
Was this article valuable?
Here are more articles you may enjoy.
Chubb to Serve as Lead US Insurer for Gulf Shipping Amid Iran War 
3 Big Questions Facing FEMA With Kristi Noem Out 
Kyle Busch and Wife Settle Lawsuit With Pacific Life and Insurance Agent 
Insurify’s Founders Discuss Evolution of Insurance Shopping With AI 
