Oregon employers next year, on average, will pay $1.63 per $100 of payroll for workers' compensation insurance. That figure covers the pure premium, the premium assessment, the Workers' Benefit Fund assessment and insurer profit and expenses. Figures above have been adjusted to reflect the 2012 mix of employment and payroll. Oregon Department of Consumer and Business Services
Following two years of increases, state officials say workers' compensation insurance rates should decline for most employers in 2014. The Oregon Department of Consumer and Business Services said last week that the "pure premium" - the portion set by the state - will drop on average by 7.6 percent. That does not include insurer expenses and profit. It also does not include smaller taxes that cover the state's administrative costs, reserves for self-insured employers and employer groups and a fund for injured worker benefits and return-to-work programs.
Including those costs, premiums will average $1.63 per $100 of payroll in 2014, down from $1.75 in 2013, a 6.9 percent decrease, state officials said.
Actual rates will vary by industry, the insurer and by individual employer claim experience and payroll size. But the construction and manufacturing sectors, both historically hazardous industries, should see drops of 11 percent and 8.5 percent respectively, said John Shilts, the state's workers' compensation division administrator. "The performance of construction and manufacturingin... |
