DCBS Announces 8.4% Rate Cut for 2020

Oregon employers on average will pay 8.4% less for workers’ compensation coverage in 2020 compared to 2019, the Department of Consumer and Business Services announced. The department approved a National Council on Compensation Insurance recommendation to lower the pure premium to $1.02 per $100 of payroll from $1.11. The department said the recommendation would reduce the rate by 8.4%. The filing marks the seventh consecutive cut that has lowered the premium rate by a cumulative 45% since 2013, the department said. According to the department, the ongoing decline in costs reflects...