For immediate release: Aug. 24, 2017
BWC proposes rate cut for Ohio local governments
COLUMBUS - School districts, cities and other Ohio local government employers could see a 6.1 percent reduction in their workers' compensation premiums beginning Jan. 1.
Ohio Bureau of Workers' Compensation (BWC) Administrator/CEO Sarah Morrison asked BWC's Board of Directors today to grant the reduction for Ohio's 3,700 public entities covered by BWC.
"This rate cut demonstrates our commitment to maintaining low rates for public employers and the communities they serve," said Morrison. "A number of factors make the reduction possible, including declining claims and a favorable forecast for future average claim costs."
The board discussed the proposal today during its actuarial committee meeting. If it approves the reduction at its Sept. 28 meeting, public employers will pay $11.8 million less in premiums than in 2017. The cut would also bring the total decrease to local government rates since the start of 2011 to 33.9 percent for a combined statewide financial impact of $434 million. BWC also delivered more than $135 million in "Third Billion Back" rebate checks to these employers last month.
The decrease represents a reduction to the statewide average of the collectible rates for public employer taxing districts. Actual premium changes for individual public entities will differ based on several factors, including their manual classification, recent claims history and program participation.
Melissa Vince, 614-466-2956 or 614-202-2329, email@example.com
Tony Gottschlich, 614-644-4940 or 614-296-1734, firstname.lastname@example.org
Established in 1912, the Ohio Bureau of Workers' Compensation provides workers' compensation insurance to 244,000 public and private Ohio employers. With nearly 1,900 employees and assets of approximately $27 billion, BWC is the largest state-run insurance system in the United States. Our mission is to protect Ohio's workers and employers through the prevention, care and management of workplace injuries and illnesses at fair rates. For more, visit www.bwc.ohio.gov.
# # #