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Oregon Increases Premium Rating | Business insurance



The premium rating levied on insurers, self-insured employers and self-insured employer groups in Oregon will increase to 9.8% from 9% by 2022, the Oregon Department of Consumer and Business Services announced.

"Based on economic forecasts, departmental analysts recommended a premium rating of 9.8%," the agency said in a statement. "The proposed increase from 9% to 9.8% will enable the department to maintain current service levels by 2022 . ”

The assessment finances the operation of the Workers 'Compensation Division, the Workers' Compensation Board, most of the Oregon Occupational Safety and Health Administration, part of the Division of Financial Regulation and DCBS.

The department announced in September that it also proposes an average net premium rate of 97 cents per $ 1

00 payroll for 2020, an average decrease of 5.8% compared to $ 1.02 for 2021.

WorkCompCentral is a sister publication of Business Insurance. here .

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