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.

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.

Download Center

HTML - No Current Item Deck
  • Free Safety Management Software Demo

    IndustrySafe Safety Management Software helps organizations to improve safety by providing a comprehensive toolset of software modules to help businesses identify trouble spots; reduce claims, lost days, OSHA fines; and more.

  • Track Key Safety Performance Indicators

    IndustrySafe’s Dashboard Module allows organizations to easily track safety KPIs and metrics. Gain increased visibility into your business’ operations and safety data.

  • Analyze Incident Data

    Collect relevant incident data, analyze trends, and generate accurate regulatory reports, including OSHA 300, 300A, and 301 logs, through IndustrySafe’s extensive incident reporting and investigation module.

  • Safety Training 101

    When it comes to safety training, no matter the industry, there are always questions regarding requirements and certifications. We’ve put together a guide on key safety training topics, requirements for certifications, and answers to common training questions.

  • Conduct EHS Inspections and Audits

    Record and manage your organization’s inspection data with IndustrySafe’s Inspections module. IndustrySafe’s pre-built forms and checklists may be used as is, or can be customized to better suit the needs of your organization.

  • Industry Safe
comments powered by Disqus

OH&S Digital Edition

  • OHS Magazine Digital Edition - March 2019

    March 2019

    Featuring:

    • HEARING PROTECTION
      Not Your Grandpa's Ear Muffs 
    • FALL PROTECTION
      Far Too Many Fatal Falls
    • DRUG TESTING
      Marijuana in the Workplace
    • FALL PREVENTION
      Ladder Safety Tips
    View This Issue