1996 Workers' compensation premium rates

[Premium Rate Ranking Heading]

Oregon employers in the voluntary market pay, on average, the 34th highest workers' compensation insurance premium rates in the nation.

Figure 1

1996 Workers' compensation premium rates

[Figure 1]

Oregon's premium rate index is $3.15 per $100 of payroll. National premium rate indices range from a low of $1.71 in Indiana, to a high of $5.75 in Hawaii. Three jurisdictions have premium rates above $5.00; 12 are in the $4.00-$4.99 range; 23 are in the $3.00-$3.99 range; and 13 have rates under $3.00. Indices are based on data from 51 jurisdictions, for rates in effect as of January 1, 1996.

Table 1

Oregon's ranking in the top ten classifications

[Table 1]

Classification codes from the National Council on Compensation Insurance (NCCI) were used in this study. Of the approximately 554 active classes in Oregon, 50 were selected based on relative importance as measured by share of losses in Oregon. To control for differences in industry distributions, each state's rates were weighted by 1990-1992 Oregon payroll to obtain an average manual rate for that state. Listed in Table 1 are Oregon's rankings in the top 10 of the 50 classifications used.

Table 2

Workers' Compensation Premium Rate Ranking

[Table 2]

Rates vary by classification and insurer in each state. Actual cost to an employer can be adjusted by the employer's experience rating, premium discount, retrospective rating, and dividends.

Employers can reduce their workers' compensation rates through accident prevention, safety training and by helping injured workers return to work.

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Heather Ferrin-Myers, Research Analyst, Research & Analysis Section, Information Management Division (503) 947-7338
This document was originally published in December 1996.
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