From Our Government Affairs Team
Mulready Announces Lower Workers' Comp Premiums for Oklahoma Employers
This week, Commissioner Glen Mulready and the Oklahoma Insurance Department (OID) approved a 5.1 percent decrease in workers’ compensation insurance loss costs for 2020. This will mark the ninth annual experience filing with a decrease.
The new loss costs go into effect on January 1, 2020. Loss costs are the average cost of lost wages and medical payments of workers injured during their employment.
Commissioner Mulready said, "The biggest driver in bringing down the loss costs portion of premiums is what is actually paid out in claims, and the reduction in the number of claims filed." The state’s lost time claim frequency continues to decrease under the new commissioner and is projected to continue its downward trend into 2020.
The news met swift approval from Fred Morgan, president and CEO of the State Chamber. "This announcement from Commissioner Mulready is great news for Oklahoma’s business community. The State Chamber has worked tirelessly with lawmakers for years to drive down the cost of workers’ compensation premiums; there’s no doubt this news will make it easier to do business in Oklahoma," Morgan said.
For more information, please contact
Liz Heigle at OID.
Save the Date for Policy Committee Meetings
As a member of the State Chamber, you are invited to our annual policy committee meetings where we develop the legislative agenda for the next year. We hope you will plan to attend any that are of interest to your business.
Human Resources & Labor Law
Thursday, October 3 from 10:00 – 11:30 am
Workers' Compensation
Monday, October 7 from 10:00 – 11:30 am
Small Business & Manufacturing
Friday, October 11 from 1:30 – 3:00 pm
Economic Development, Taxation & Retail
Wednesday, October 16 from 1:30 – 3:00 pm
Workforce Development
Thursday, October 17 from 10:00 – 11:30 am
Aerospace, Technology, Defense & Telecommunications
Tuesday, October 22 from 10:30 am – 12:00 pm
Health Care
Tuesday, October 22 from 2:00 – 3:30 pm
Transportation & Infrastructure
Wednesday, October 23 from 1:30 – 3:00 pm