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
Was this article valuable?
Here are more articles you may enjoy.
Allstate Q3 Net Income Drops About 45% on Higher Catastrophe Losses 
Florida Appeals Court Bars Release of ‘Trade Secret’ Info in Heritage Claims Litigation 
LA Port Strike Risk Pushed to Friday as Labor Talks Continue 
More Florida Insurers Announce Rate Cuts for Auto, Homeowners, Condo Units 
