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Three years of rate-reform efforts have dropped Ohio’s workers’ compensation average base rates to their lowest level in 20 years.
For the 2009 policy year, private employers saw a steep, 12-percent overall premium reduction. This was the result of base rate cuts in 433, or 83 percent, of Ohio’s manual classifications. Effective July 1, 2010, the overall premium rate for Ohio’s private employers will be an additional 3.9-percent lower, representing a reduction in 396, or 75 percent, of the manual classes. Since July 1, 2007, we have lowered average base rates by 35 percent for the majority of Ohio’s private employers.
| Industry group | Name | % change* |
|---|---|---|
| 1 | Agriculture | - 16 |
| 2 | Extraction | - 16 |
| 3 | Manufacturing | - 17 |
| 4 | Construction | - 15 |
| 5 | Transportation | - 13 |
| 6 | Utility | - 6 |
| 7 | Commercial | - 12 |
| 8 | Service | - 19 |
| 9 | High risk commercial/service | - 13 |
| 10 | Office work/miscellaneous | - 22 |
* Since 2008 policy year
Analysis by BWC’s Actuarial Division reveals this decline in rates has carried over to the industry level as well. We categorize all manual classifications into 10 industry groups, covering everything from agriculture and manufacturing to transportation and office work. Since policy year 2008, the data reveals a significant decline in the average collectible rate for all 10 industry groups used in Ohio.
