Oregon’s Department of Consumer and Business Services released its 2024 Premium Rate Ranking Report, a biennial study that compares workers’ comp premium rates across all states and Washington D.C.

To ensure consistency, the study focuses on Oregon’s 50 largest industry classes by share of losses, including medial costs and indemnity benefits. Other states then report comparable data as of January 1, 2024, using NCCI classifications or similar classifications. 

Key findings from the report include:

• North Dakota had the lowest rates, followed by Arkansas, West Virginia, Utah, and Ohio
• Hawaii, New Jersey, New York, California, and Vermont had the highest premiums
• The national median index rate dropped to $1.09 per $100 of payroll, the lowest since the study began in 1986
• Oregon ranked 14th lowest in premium rates, up 4 spots since 2022
• The National rate decline has accelerated, with mid-ranking jurisdictions showing highly competitive index rates, differing by an average of just $0.02 between ranks

This year’s report included minor updates, such as expanding the number of insurers reviewed and refining how taxes and assessments are factored into rate calculations.

Oregon’s biennial Premium Rate Ranking Report is a nationally respected benchmark that workers’ comp stakeholders use to comp system competitiveness and guide strategic planning.