Boston, MA – Liberty Mutual Insurance’s Northwest Business Insurance operation recently announced an overall retrospective rating adjustment of more than $1.6 million for businesses participating in its Oregon Restaurant and Lodging Association (ORLA) group workers compensation insurance program.
The rating adjustment reflects the group’s strong collective safety performance for the policy year ending December 31, 2012, and accounts for premium adjustments, tax savings, and non-disabling medical reimbursements. The average member account savings was 22 percent, with some participants receiving more than 30 percent by recouping funds they paid under the Oregon Medical Service Cost Reimbursement Program.
“Through our partnership with Liberty Mutual, ORLA members are able to participate in a workers compensation group program that yields additional savings based on favorable safety performance,” said Steve McCoid, ORLA President and Chief Executive Officer. “As medical costs continue to climb, ORLA members are receiving premium returns of more than 20 percent.”
Liberty Mutual provides ORLA members access to its industry-specific risk control services, claims management experts and return-to-work specialists to help participants maintain a safe work environment and achieve successful workplace injury outcomes.
“As we approach our 30th year partnering with ORLA, member savings now exceed $99 million,” noted Denise Moore, Liberty Mutual Insurance Association Programs Director, Northwest region.
Source: Liberty Mutual