Oregon Workers' Compensation Costs to Drop in 2020

Original source: https://www.insurancejournal.com/news/west/2019/09/10/539404.htm

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Insurance Journal (09/10/19)

Oregon businesses are most likely to find another fall in workers’ compensation costs in 2020. Employers in the state will cover an average of $1.02 per $100 of payroll for workers’ comp following year, down from $1.11 at 2019, under a proposal from the Oregon Department of Consumer and Business Services (DCBS). The pure premium rate, which is the base rate carriers use to ascertain just how much employers must pay for health claims and lost wages, will fall by a typical 8.4percent below the proposal. The pure premium will have declined by 45% during the 2013 as stated by the department, which will mark the seventh consecutive decline in prices. DCBS Director Cameron Smith says,”The steady decline in workers’ compensation costs is about more than just the numbers. It shows the tricky work of employers, workers, insurers, and authorities to keep essential worker protection applications and powerful benefits for injured employees while keeping prices low.” … Read More

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Original source: https://www.insurancejournal.com/news/west/2019/09/10/539404.htm

Our intent is to browse the internet each day to make you to relate to the idea of keeping a Property Damage Adjustment Consultant on your team. Look at this website post we found.

Insurance Journal (09/10/19)

Oregon businesses are most likely to find another fall in workers’ compensation costs in 2020. Employers in the state will cover an average of $1.02 per $100 of payroll for workers’ comp following year, down from $1.11 at 2019, under a proposal from the Oregon Department of Consumer and Business Services (DCBS). The pure premium rate, which is the base rate carriers use to ascertain just how much employers must pay for health claims and lost wages, will fall by a typical 8.4percent below the proposal. The pure premium will have declined by 45% during the 2013 as stated by the department, which will mark the seventh consecutive decline in prices. DCBS Director Cameron Smith says,”The steady decline in workers’ compensation costs is about more than just the numbers. It shows the tricky work of employers, workers, insurers, and authorities to keep essential worker protection applications and powerful benefits for injured employees while keeping prices low.” … Read More

Thank you! And please schedule a time with us if you need friendly help when arguing with your insurance carrier. NO claim, NO fee!