Newspaper article THE JOURNAL RECORD

Lawmakers Push for Workers Compensation Rate Cut

Newspaper article THE JOURNAL RECORD

Lawmakers Push for Workers Compensation Rate Cut

Article excerpt

Several state legislators are calling on the State Board of Property and Casualty Rates to cut workers compensation insurance rates again this year, citing new statistics showing the positive impact of recent reforms.

Although he gave no specific details, Sen. Jim Maddox, D-Lawton, said a reform plan addressing workers compensation reform is being formulated and should be finalized within a few weeks.

"The numbers we've seen indicate the reforms of recent years are working and workers compensation costs are coming down," said Maddox, chairman of the Senate Small Business Committee. "We want the board to pass the savings on the Oklahoma business owners and the quicker, the better." Joining Maddox were Sens. Stratton Taylor, Trish Weedn, Lewis Long, Penny Williams, Bruce Price, Brad Henry, Dick Wilkerson, Frank Shurden, Robert Kerr, Gilmer Capps, Larry Dickerson, J. Barry Harrison, Sam Helton and Angela Monson. The legislators cited a new Senate analysis on the effectiveness of the 30 workers compensation reforms approved by the Legislature in the last four years: * Citing legislative reforms earlier this year, an independent actuary recommended a workers compensation reduction of as high as 14 percent, but a 4.5 percent reduction was implemented by the State Board on Property and Casualty Rates. * Workers compensation filings have decreased by 8 percent since a reform package was passed in a 1994 special session. That program included stiffer fraud penalties, workplace safety initiatives and dueling doctor reforms. * Fraud charges have increased by 37 percent in the last year with 92 percent of the cases ending in guilty pleas. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.