Senate President Pro Tem comments on decrease in workers’ compensation loss costs

Senate President Pro Tempore Brian Bingman today issued the following statement in response to the National Council on Compensation Insurance (NCCI) filing a workers’ compensation premium level decrease for the state. Premium levels have now decreased by 22.4 percent in two years, following the Legislature’s passage of comprehensive workers’ compensation reform authored by Bingman in 2013.

“The savings Oklahoma businesses are seeing due to workers’ compensation reform are allowing employers to reinvest in our state, expand and add more good jobs. This sharp reduction in premium rates further confirms that our legislation has lowered the cost of doing business in Oklahoma.

“Our reforms have been successful in controlling costs and removing a significant roadblock to economic growth. I’m pleased to see our efforts are contributing to the creation of a stronger business climate.”