DCBS Cuts Pure Premium by 5.3%

The Oregon Department of Consumer and Business Services approved an average 5.3% decrease in pure premiums for 2015, its second consecutive rate reduction. The department approved a 7.6% reduction for 2014 after approving increases of 1.7% for 2013 and 1.9% for 2012. The 5.3% decrease is an average across all industries, and some sectors will see greater reductions. The average reduction for office and clerical workers is 6%, while miscellaneous industries will see an average 7% cut. On the other hand, the decrease will average about 4.3% for manufacturing, and 4.1% in the goods and services...