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Oregon increases premium assessment

Workers comp

The premium assessment rate levied against insurers, self-insured employers and self-insured employer groups in Oregon will increase to 9.8% from 9% in 2022, the Oregon Department of Consumer and Business Services announced.

“Based on economic forecasts, department analysts recommended a premium assessment rate of 9.8%,” the agency said in a statement. “The proposed increase from 9% to 9.8% will allow the department to maintain current service levels throughout 2022.”

The assessment funds the operations of the Workers’ Compensation Division, Workers’ Compensation Board, most of the Oregon Occupational Safety and Health Administration, a portion of the Division of Financial Regulation and the DCBS.

The department in September announced it is also proposing an average pure premium rate of 97 cents per $100 of payroll for 2020, an average 5.8% reduction compared to $1.02 for 2021.

WorkCompCentral is a sister publication of Business Insurance. More stories here.