The Oklahoma Insurance Department announced that loss costs in the state will decrease overall for the second straight year, following the National Council on Compensation Insurance’s filing for a 7.8% overall loss-cost level cut.
The loss-cost cut to take effect Jan. 1, 2015, will bring Oklahoma’s two-year decrease to 22.4%, OID said in a release. Insurance Commissioner John D. Doak said the decrease was great news for the state’s economy.
“When employers pay less for workers’ compensation insurance, they can more easily grow their business, hire additional wor...
Comments