On the heels of the first increase in workers compensation rates since 1992, a state lawmaker is considering legislation that would overhaul the rate review process in an effort to make it more fair to consumers, namely Oklahoma businesses.
"In this latest rate hearing, it seemed like all the cards were stacked against Oklahoma businesses and in favor of the insurance industry. The Senate was the only entity that spoke up on behalf of the consumers and it was barred from participating in the process. There has to be a better way," said Senator Brad Henry.read more.
Citing the report of an independent actuary, three state senators are pressing their call for another reduction in workers compensation rates.
Senators Brad Henry, Bruce Price and Penny Williams are directing their request to the State Board for Property and Casualty Rates, which is scheduled to meet September 28th to consider a rate action.
If state regulators follow the advice of the actuarial study, it will result in the fifth reduction in workers comp rates in as many years.read more.
A positive report about Oklahoma's workers compensation environment should bolster the case for another reduction in rates, according to three state lawmakers who have been pushing for a comp rate cut.
Senator Brad Henry, Senator Bruce Price and Senator Penny Williams cited a new report by a member of the Oklahoma Advisory Council on Workers Compensation, documenting several positive trends in the comp arena.read more.
Governor Keating has launched yet another assault on education, this time with the endorsement of a massive tax cut initiative that would gut the state budget resources of public schools and other programs, according to a State Senate budget leader.
"When Governor Keating says he wants to cut taxes, what he's really saying is he wants to cut education because it's the biggest beneficiary of state revenue," said Senator Cal Hobson, vice-chairman of the Senate Appropriations Committee.read more.