Accuracy in rates • Better services • Safe workplaces • Stable rates

Improving accuracy in rates

As a starting point, an employer's premiums should primarily reflect the projected future risk that business presents to the system. BWC should ensure its efforts provide all Ohio employers with competitive, appropriate rates. To accomplish this, BWC is:

• Implementing a new reserving system to improve projections of future claims costs while increasing accuracy and transparency;
• Transitioning to a split experience-rating plan that will factor both frequency and severity of claims when pricing workers' comp insurance for employers;
• Improving and preserving Ohio's group rating program by making it an attractive option for more businesses with the state;
• Studying new, performance-based discount programs designed to provide employers with potentially lower costs by considering objective performance measures.