A stable, fair system

The main goal of our rate-reform initiative is to incorporate the best practices of the insurance industry into Ohio’s workers’ compensation system. This includes adopting sound actu-arial methods for rate setting and implementing programs widely available in other states and in other types of insurance.

These rate-reform efforts are proving successful. Ohio employers now see more stable rates and predictable premiums. We have lowered the maximum discount for group-rated employers to be more in line with the costs they bring to the system, dropping from 90 percent in 2007 to 51 percent in 2010.

Other benefits of rate reform include:

• More than half of Ohio’s private employers sharing a premium reduction of more than $200 million from policy years 2008 to 2010;
• New rating programs are available to help employers achieve lower costs and to encourage safety for Ohio’s work force.

Thanks to rate reform, Ohio’s em-ployers are seeing rates that are stable, fair and — in many cases — lower than they’ve been in years past.

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