A Weekly Update on all of the Good News about Oklahoma
Because much of the good news about our state is sometimes overlooked by state leaders and others, many positive developments and success stories in Oklahoma go unreported. It is our hope that "Oklahoma Pride," a weekly publication of the Oklahoma Senate, will ensure that the best stories about Oklahoma are told.
For example, this week in Oklahoma, did you know that......
Workers comp rates are going down in Oklahoma again! The State Insurance Fund, which writes about one-third of the workers comp policies in Oklahoma, voted to cut rates for its customers this week. The action comes on the heels of a another rate decrease approved by the State Board for Property and Casualty Rates in January. In deciding to reduce rates in both instances, regulators credited reforms enacted by the Legislature for improving the workers comp environment in Oklahoma.
Even with the back to back rate cuts, Oklahoma legislators haven't stopped their efforts to enact additional reforms to the workers comp system. The Senate unanimously approved an omnibus reform measure this week, hoping to escalate the rate reductions we've witnessed the past two years.
It's important to recognize we've come a long way on workers compensation, passing reform packages in 1992, '93 and '94 that prompted the latest round of cuts. However, that won't stop us from forging ahead to explore any additional reforms that may save businesses money.