Workers’ Comp Reforms Continue to Bring Savings

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Oklahoma City (September 14, 2017) – State Chamber of Oklahoma President and CEO, Fred Morgan, released the following statement after the National Council on Compensation Insurance (NCCI) filed an overall loss cost level decrease of 16.3 percent for next year:

“Another reduction in the loss cost filing is a great sign for business in Oklahoma. This reduction reflects the continuing positive effects of the workers’ compensation reforms passed in 2013 and the decrease will bring the total loss costs rate reduction to 60.3 percent in five years. We are confident that the ongoing work of the Commission will continue to streamline the claims process and reduce the “friction costs” associated with the old court-based system. The State Chamber will continue to work for system improvements that keep costs down while helping injured workers get back on the job.”