Oregon Employers to Receive Money Back Due to Decrease in Workers’ Comp Costs

In addition to the money back, Oregon employers are experiencing a decrease in average workers’ compensation costs. The workers’ compensation system in Oregon has improved since 1990, with a decrease of 70 percent in claims incidence and a similar percentage decrease in average pure premium rates.

  • Sep 14, 2018

The board of directors for SAIF, Oregon’s not-for-profit workers’ compensation insurance company, declared Wednesday two dividends for customers: a $120 million primary divided to be paid to SAIF policyholders and a $40 million safety performance dividend to be paid based on the safety results of each policyholder.

This marks the ninth year in a row SAIF has returned dividends to its customers. The dividends are due to SAIF’s overall financial results, and on average, eligible customers can expect to receive 28.6 percent of the 2017 premium paid.

“We're a not-for-profit insurance company. That means when we have a good year, we're able to return premium directly to our customers in the form of a dividend,” said President and CEO Kerry Barnett. “We also want to give special recognition to customers with strong safety records. Preventing injuries through effective safety programs is the best way to keep rates low for everyone.”  

In addition to the money back, Oregon employers are experiencing a decrease in average workers’ compensation costs. The workers’ compensation system in Oregon has improved since 1990, with a decrease of 70 percent in claims incidence and a similar percentage decrease in average pure premium rates.

“Think about your home, car, or life insurance-are any of those actually costing you 70 percent less than they did 30 years ago?” Barnett said. “Oregon has a real success story to tell, and we're proud to be such a big part of it.”  

Of the 47,488 policyholders eligible for SAIF’s primary dividend, about 94 percent are also eligible for all or part of the additional dividend for safety performance. Checks will be mailed to eligible employers in October.

Product Showcase

  • NoiseCHEK Personal Noise Dosimeter

    SKC NoiseCHEK is the easiest-to-use dosimeter available! Designed specifically for OEHS professionals, SKC NoiseCHEK offers the easiest operation and accurate noise measurements. Everything you need is right in your palm. Pair Bluetooth models to your mobile devices and monitor workers remotely with the SmartWave dB app without interrupting workflow. Careful design features like a locking windscreen, sturdy clip, large front-lit display, bright status LEDs, and more make NoiseCHEK the top choice in noise dosimeters. Demo NoiseCHEK at AIHA Connect Booth 1003. Read More

  • HAZ LO HEADLAMPS

    With alkaline or rechargeable options, these safety rated, Class 1, Div. 1 Headlamps provide long runtime with both spot and flood options in the same light. Work safely and avoid trip hazards with flexible hands-free lighting from Streamlight. Read More

  • Kestrel 5400 Heat Stress Tracker WBGT Monitoring for Workplace Safety

    Ensure safety with the Kestrel® 5400 Heat Stress Tracker, the go-to choice for safety professionals and endorsed by the Heat Safety & Performance Coalition. This robust, waterless WBGT meter is ideal for both indoor and outdoor environments, offering advanced monitoring and data logging essential for OSHA compliance. It features pre-programmed ACGIH guidelines and alert settings to quickly signal critical conditions. Integrated with the cloud-based Ambient Weather Network, the 5400 allows managers to view, track, and log job site conditions remotely, ensuring constant awareness of potential hazards. Its capability for real-time mobile alerts and remote data access promotes proactive safety management and workplace protection, solidifying its role as a crucial tool in industrial hygiene. Read More

Featured

Most   Popular

Artificial Intelligence