Pure premium rate to drop 14 percent in 2018

The basic rate that Oregon employers pay for workers' comp insurance (called the "pure premium rate") will drop by 14 percent in 2018, the Oregon Department of Consumer and Business Services (DCBS) announced Monday.

The rate has decreased or stayed the same in 25 of the 27 years since the Oregon workers' comp reforms of 1990, with a cumulative decrease of more than 70 percent. DCBS estimates that Oregon employers have saved more than $20 billion as a result.

DCBS also announced that the cents-per-hour assessment for the Workers' Benefit Fund will remain at 2.8 cents for 2018.

For more, read the DCBS news release.