DCBS Announces 11th Consecutive Rate Cut

The Oregon Department of Consumer and Business Services on Wednesday announced that the pure premium rate will drop by an average of 6.7% next year. The department said this is the 11th consecutive rate decrease and that pure premiums have declined a cumulative 49% since 2015. Employers, on average, will pay 90 cents per $100 of payroll for work comp costs in 2024, the department said, down from 93 cents in 2023. At the same time, the department is proposing no change in the premium assessment that funds the Workers’ Compensation Division, Oregon’s Occupational Safety and Health...