OR DCBS Determines 2010 WC Insurance Average Premium Rate

                               Portland, OR (CompNewsNetwork) - The Department of Consumer and Business Services has determined that the average pure premium rate Oregon employers will pay for workers' compensation insurance in 2010 will decrease. The pure premium rate is the base premium reflecting the actual cost of workplace injury and illness claims, before insurer administrative expenses and profit are added. This is the fourth consecutive year the rate has decreased, following four years in a row with no change in the rate. Prior to that, there were 12 consecutive annual decreases from 1991 to 2002. The cumulative decrease in pure premiums since 1990 totals more than 60 percent and represents an estimated $17.4 billion in workers' compensation premium savings to employers. The 2010 rate decrease represents an average across all types of businesses. Rates for specific businesses and industry groups may be higher or lower, depending on group and individual claim records. Employers pay their premiums directly to their insurers. Premiums do not fund state programs or services.
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