Ohio approves $1.5B comp dividend

The Ohio Bureau of Workers Compensation’s board of directors has approved a $1.5 billion workers compensation dividend recommended by Republican Gov. Mike DeWine to help employers in the state weather the impact of COVID-19, the agency announced Friday.

This dividend is the second the state has made since the start of the pandemic to help ease comp burdens on employers. In April, the BWC issued a $1.54 billion dividend, with policyholders receiving checks averaging $8,500, the agency said. 

The dividend, which equals 100% of the premium paid by employers in 2019, will be distributed to about 200,000 private and public employers beginning in late October, after the agency first applies the dividend to any unpaid balances.

More insurance and workers compensation news on the coronavirus crisis here.