Oklahoma Insurance Commissioner John Doak announced the National Council on Compensation Insurance Inc. (NCCI) has filed to reduce workers’ compensation insurance rates in Oklahoma by 1.7 percent effective Jan. 1, 2012.
The commissioner says NCCI attributed the rate decrease to this year’s passage of Oklahoma Senate Bill 878. Reforming Oklahoma’s workers’ compensation law was high on the agenda of Gov. Mary Fallin and SB 878 received support from both parties in the Legislature.
SB 878 went into effect on Aug. 26. Prior to its passage rates were anticipated to rise again, according to the insurance department, which will review NCCI’s request.
To emphasize the importance of reforming workers’ compensation, Commissioner Doak appointed Denise Engle as the state’s first deputy commissioner of workers’ compensation.
Source: Oklahoma Insurance Department
Was this article valuable?
Here are more articles you may enjoy.
US Home Insurance Still Priced Too Low for Climate Risk, Says Swiss Re Chair 
Coverage Needed: Hundreds of Thousands in SE Now in Flood Zones With New Maps 
US Roof Maintenance Lags: Hanover 
GEICO Tops Progressive With Higher J.D. Power Scores 
