By Gino DiCaro
Last month, Oregon state officials announced that their state’s workers compensation premiums will decline by 7.6 percent in 2014. Even better, their manufacturers and construction industries will see drops of 11 and 8.5 percent.
According to the most recent data, California was the third most expensive workers’ compensation state in the country, with premiums that were $2.92 per $100 of payroll, while Oregon was ranked 41st with $1.58. As California implements its workers’ compensation reforms (contained in last year’s SB 863), we should look to Oregon to see what they are doing right. Insurance premiums are a bottom line issue and a significant factor in any manufacturer’s decision to make a long term siting investment in the state.
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