Oklahoma Approves 4.8% Cut in 2027 Workers' Compensation Loss Costs, Easing Premiums for Many Employers
OKLAHOMA CITY — The Oklahoma Insurance Department (OID) announced on November 3 that it has approved a 4.8% decrease in workers' compensation insurance loss costs for 2027. The reduction means lower premiums for many Oklahoma businesses.
Loss costs are an industry measure of the anticipated cost of workplace injuries, including medical treatment and lost wages. Insurers use these costs as a key factor when calculating workers' compensation premiums, so lower loss costs can help reduce insurance expenses for Oklahoma employers.
"This continued reduction demonstrates the strength and stability of Oklahoma's workers' compensation system," said Insurance Commissioner Glen Mulready. "Lower loss costs help keep insurance affordable for employers while supporting a strong business climate across our state."
The National Council on Compensation Insurance (NCCI), a licensed rating and advisory organization, collects annual data on workers' compensation claims for the insurance industry. NCCI is authorized to make recommended loss-cost filings on behalf of workers' compensation insurance companies in Oklahoma and 37 other states.
The new loss costs will go into effect for new and renewing policies effective January 1, 2027. Consumers with questions about other insurance issues can contact the Oklahoma Insurance Department at 800-522-0071.
(Source: Oklahoma Insurance Department)
Source: Oklahoma Insurance Department
Published by GSM · USA (original Chinese edition)
Photo: 图：俄克拉荷马州议会大厦（Oklahoma City）。DoulosBen 摄，CC BY 4.0，经 Wikimedia Commons。 / Photo: The Oklahoma State Capitol in Oklahoma City. Photo by DoulosBen, CC BY 4.0, via Wikimedia Commons.
