BWC Announces 7.1% Rate Reduction

The Ohio Bureau of Workers’ Compensation on Friday announced that its board of directors approved a net 7.1% reduction in employer rates and assessments that takes effect at the start of the 2021 policy year on July 1. The 7.1% rate cut represents an average statewide change in premiums, the BWC said in a statement. The actual cost of coverage will vary for individual employers based on expected future claim costs in their industry, their recent claims history and their participation in various BWC programs. Combined, the BWC said the state’s employers will pay $71.5 million ...