COLUMBUS – The Ohio Bureau of Workers’ Compensation (BWC) has reduced its rates for marine industry employers by 20 percent, effective July 1. The change, approved by the BWC Board of Directors in June, lowers the rates for employers conducting business on Ohio waterways that subscribe to the Marine Industry Fund. Ohio ranks 7th among the 50 states in longshore and harborworker activity based on total tons of waterborne domestic cargo handled through a state’s ports.
“Ohio waterways move a tremendous amount of cargo, placing Ohio in a very strong position among all states and making the maritime industry a significant factor in the success of our economy,” said BWC Administrator Stephen Buehrer. “By lowering workers’ compensation rates for the maritime industry, we are supporting economic development and job creation by putting more resources back in the hands of our entrepreneurs so they can invest in their operations and their workforce.”
The Marine Industry Fund provides coverage for injuries, disease and death resulting from longshore and harborworker duties for Ohio employers with employees who work on or about navigable waters, as required by the Federal Longshoremen and Harbor Workers’ Act. The Act requires employers with workers engaged in maritime employment to have this type of insurance. This includes pier, wharf, dry dock, terminal, building way, marine railway and other adjoining areas customarily used by an employer in loading, unloading, repairing, or building a vessel. Ohio employers may choose to participate in the Marine Industry Fund, purchase insurance from a private carrier, or self insure if approved by the U.S. Department Labor.
Source: Ohio BWC