Oklahoma businesses can expect an overall workers’ compensation loss cost decrease of 14.6 percent, effective Jan. 1. The National Council on Compensation Insurance Inc. (NCCI) has credited most of the decrease to the workers’ compensation system reform law passed this year by the state legislature.
The 14.6 percent projected reductions in loss costs represent the part of a workers’ compensation insurance premium for indemnity and medical payments and associated claim adjustment expenses, not reflecting overhead and profit.
The overall average loss cost impact at an industry group level is as follows:
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