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Member, Beacon International Group, Ltd.
COLUMBUS, Ohio—The top executive overseeing Ohio's workers compensation insurance system has announced a proposal to lower premium rates by a combined 5% for public employers statewide.
Stephen Buehrer, administrator and CEO of the Ohio Bureau of Workers' Compensation, told the state-run insurer's board of directors on Thursday that the cuts would produce an estimated $13.6 million savings for the state's 3,900 municipalities and special districts.
The bureau is the sole underwriter of workers compensation insurance in the state, and provides coverage to all public and private employers.
“We understand that public employers at all levels are being asked to maintain superior service with fewer resources, and we're pleased to help them by keeping workers comp costs in check,” Mr. Buehrer said in a statement.
Statewide, premium rate reductions would average 5% from the current year, though some public-sector industry groups could see bigger discounts, the bureau's statement said.
Counties and school districts would see a decrease of 6%, and villages—municipalities with between 1,600 and 5,000 residents—would see their rates drop by 9%. Special district employers, excluding transit authorities, could see decreases of up to 20%.
Mr. Buehrer said premium rates would not automatically decrease for all individual public employers. Some may actually see their premium increase slightly, based on claims history and base rate changes for manual classifications, he said in the statement.
The bureau's board of directors is expected to vote on the proposal at its next meeting on Oct. 28.