Private employer workers' compensation premiums to increase--Society members save on BWC payment.

PositionOhio

The Ohio Bureau of Workers' Compensation (BWC) Oversight Commission approved an average 3.9 percent increase to private employer premiums for next fiscal year.

The hike marks the fourth consecutive year rates have increased. The new rates will apply between July 1 and June 30, 2007, for which premium payments are due in February and August 2007.

Despite increasing assets $125 million over last year, the BWC sought the rate increase based on recommendations of an actuarial consultant and to increase BWC reserves.

The BWC Oversight Commission also reviewed a revised investment policy that reflects the Bureau's ongoing efforts to shift assets to fixed income investments and away from private equity investments, which equal about 3 percent of...

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