Ninth Consecutive Cut Would Bring Rates Below $1

Oregon employers, on average, would pay less than $1 per $100 of payroll for workers’ compensation coverage in 2022 under a proposed rate cut the Department of Consumer and Business Services announced Thursday. The department is proposing an average pure premium rate of 97 cents per $100 of payroll for 2022, an average 5.8% reduction from the $1.02 rate for 2021. DCBS said that if the proposal is approved, the average pure premium rate will have declined 51% since 2013. “The reduction in costs is due to a continued downward trend in Oregon’s lost-time claim frequency and do...