BWC Board Approves 10.8% Rate Reduction for Private Employers

The board of directors of the Ohio Bureau of Compensation approved a 10.8% rate reduction for private employers, which will take effect July 1, the BWC announced. The rate reduction is expected to bring a decrease in projected annual premium of $153 million and bring private employer rate levels 21.4% lower than the rate levels in effect Jan. 1, 2011, the BWC said. "We've targeted improvements that will yield positive improvements to Ohio's workers' compensation system and are conducive to business growth," BWC Administrator and Chief Executive Officer Steve Buehrer sai...