Oregon Report: Workers’ Comp Increases Coming
"...In 2012, the national median rate index (total payroll/total premiums) was $1.88 per $100 of payroll. The national median rate index peaked in 1994 at $4.35. It is currently at its lowest since the inception of the report, which was launched in the late 1980s to provide data to help Oregon’s government figure out something they kind of already knew – the state’s workers’ comp rates were far too high. "This is a very good study, but speaks to the cost of the system versus profitability. For instance the State of Oregon is quick to tout: "Dotter noted that Oregon’s rate index was 16 percent below the national median in 2012."The state’s employers on average pay the nation’s 39th highest workers’ comp premium rates, meaning 38 states had higher rates in 2012. Oregon ranked 41st in 2010. Great picture for employers, not so much for carriers or those taking loss sensitive programs in Oregon... Check this out in terms of profitability... Hmm... Are rates high enough?
Let's see what our friends at NCCI think. BTW, this is an awesome resource on understanding the macro and micro issues for wc countrywide... Check them out...https://www.ncci.com/nccimain/Events/MinutesPresentationsMaterials/Pages/StateAdvisoryForumPresentations.aspxPer NCCI, 2011 combined ratio was the highest in the country at 157%... down from 163%. Pretty ugly results for those that bear risk!
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