Ohio cuts comp rates by 1% for public employers

A 1% workers compensation rate reduction for public employers in Ohio was approved Friday.

The reduction takes effect Jan. 1 and is projected to decrease annual premiums by about $1.8 million, according to the Bureau of Workers’ Compensation, whose board approved the cut. The reduction follows a 6% rate cut for private employers that took effect July 1.

“The proposed rate cut represents an average statewide premium change, including administrative costs,” the bureau said earlier. The actual premium paid by individual public employers “depends on several factors,” it said, such as their industry’s expected future claims costs and their recent claims history.