Magnifying Glass
Back to Sponsored Content

OR Proposed 2010 WC Premium Assessment Rates

20 Sep, 2009 WorkersCompensation.com

                               
Portland, OR (CompNewsNetwork) - The Oregon Department of Consumer and Business Services has proposed that the 2010 workers' compensation premium assessment remain at 4.6 percent for insurers and 4.8 percent for self insured employers and self insured employer groups. 

The recommended single year rate recommendation and the multiple year rates, developed for planning purposes only, take into account these objectives according to the following formula:

Required Premium Assessment Rate = {Planned and Forecasted Expenditures and Transfers – (Forecasted Investment Income + Forecasted Other Revenue)} / Forecasted Assessable Premium Base

The formula clearly shows that finding the ratio of planned (legislatively approved) expenditures and transfers net of non-premium assessment revenue and the assessable (earned) premium base determines the required rate. In the case of the current analysis, the planned expenditures consist of the agency's 2009-11 biennium legislatively adopted budget (LAB) adjusted for the following major components: (1) savings reflected in the 1st quarter 2009-11 DCBS management action plan. This includes anticipated savings from 10-14 furlough days for every DCBS employee during the 2009-11 biennium and a step-freeze effective from September 1, 2009 through August 31, 2010.; and, (2) updated expenditure forecasts for the Non-Complying Employer Program.

The attached file has more information about the proposed premium assessment, notice of a reduction in the workers' compensation "pure" premium rate, and notice that the Workers' Benefit Fund assessment will remain unchanged at 2.8 cents per hour worked in 2010. 

    • Read Also

    New from NCCI: Temporary Disability Duration in Workers Compensation – A First Look

    WHAT: NCCI’s latest report: Temporary Disability Duration in Workers Compensation – A First Look  [link.mediaoutreach.meltwater.com] WHO: The report is authored by:   KEY INSIGHTS:  WHY IT MATTERS: The majority of lost-time claims receive TD benefits at some point. Given their ubiquity, it’s important […]
    Sponsored: Business Insurance Magazine Names ReEmployAbility as One of the Top Places in Insurance to Work

    Contact: Joanna Jewell (813) 371-6808 | news@reemployability.com  (November 8th, 2023) – ReEmployAbility is pleased to announce that it was named one of the “Best Places to Work in Insurance” by Business Insurance for 2023. Business Insurance […]
    ATF Medical will present an “Introduction to Home Modifications” webinar on December 6

    CEUs available for Certified Case Managers Newnan, Georgia (Nov. 3, 2023) — ATF Medical’s Executive Director/Rehab Technology Erin Zablocki, CDME, Master C.E.A.C., ECHM will present an “Introduction to Home Modifications” on December 6 at 10 a.m. ET/7 a.m. PT. […]

    About The Author

    • WorkersCompensation.com

    More by This Author

    ReEmployAbility Announces Free Webinar: ‘Overcoming Jurisdictional Return-to-Work Challenges’

    ReEmployAbility, Inc.Contact: Rebecca Dearth(813) 261-3117 | news@reemployability.com Brandon, FL (May 10, 2023)- ReEmployAbility CEO and Founder Debra Livingston will be hosting a second free, live Work Comp Central webinar in their continued series to educate […]
    NCCI Annual Golf Event Tees Up $25,000 for Kids’ Chance of America

    (Orlando, FL–May 10, 2023)—The National Council on Compensation Insurance (NCCI) has given $25,000 to Kids’ Chance of America, supporting college scholarships for the children of injured workers. NCCI made the donation in conjunction with its Annual […]
    What Makes a CMS Appeal Successful?

    In response to a Medicare conditional payment demand, payers can access a five-level appeals process, including a hearing before a Centers for Medicaid and Medicaid Services (CMS) administrative law judge (ALJ). Most conditional payment demand […]

    Read More

    New from NCCI: Temporary Disability Duration in Workers Compensation – A First Look

    WHAT: NCCI’s latest report: Temporary Disability Duration in Workers Compensation – A First Look  [link.mediaoutreach.meltwater.com] WHO: The report is authored by:   KEY INSIGHTS:  WHY IT MATTERS: The majority of lost-time claims receive TD benefits at some point. Given their ubiquity, it’s important […]
    Sponsored: Business Insurance Magazine Names ReEmployAbility as One of the Top Places in Insurance to Work

    Contact: Joanna Jewell (813) 371-6808 | news@reemployability.com  (November 8th, 2023) – ReEmployAbility is pleased to announce that it was named one of the “Best Places to Work in Insurance” by Business Insurance for 2023. Business Insurance […]
    ATF Medical will present an “Introduction to Home Modifications” webinar on December 6

    CEUs available for Certified Case Managers Newnan, Georgia (Nov. 3, 2023) — ATF Medical’s Executive Director/Rehab Technology Erin Zablocki, CDME, Master C.E.A.C., ECHM will present an “Introduction to Home Modifications” on December 6 at 10 a.m. ET/7 a.m. PT. […]
    Technology Driving Business Success! 

    By: Horizon Casualty Services, Inc.  No matter the industry, technology is a driving force. In the ever-evolving landscape of Workers’ Compensation (WC) and Personal Injury Protection (PIP), technology stands as a catalyst for profound transformation. […]
    ReEmployAbility Named as one of Tampa Bay’s Leading Women-Run Businesses 

    Brandon, Florida (October 19th, 2023) – ReEmployAbility, a leader in the Return-to-Work niche, is delighted to announce its recent recognition as a top women-led business in Tampa Bay. In the September 22nd edition of The […]
    Industry Webinar: Physician Service Utilization—A Multistate Review 

    Don’t miss this insightful session featuring NCCI’s Executive Director of Actuarial Research, Raji Chadarevian on Thursday, October 26 at 2:00 p.m. ET. Join Raji as he reveals key findings from a recent study on physician service […]

    Request a Demo

    To request a free demo of one of our products, please fill in this form. Our sales team will get back to you shortly.