Okla. Admin. Code § 380:41-3-5

Current through Vol. 42, No. 4, November 1, 2024

Section 380:41-3-5 - Workers' compensation insurance premium reduction

(a) The Oklahoma Department of Labor will mail a copy of the certificate to the employer's insurance carrier so that the appropriate premium reduction is applied to their next policy year.

(b) The premium reduction schedule shall be as follows:

(1) $1 to $5000 premium rate: 15% reduction

(2) $5001 to $29,000 premium rate: 14% reduction

(3) $29,001 to $53,000 premium rate: 13% reduction

(4) $53,001 to $77,000 premium rate: 12% reduction

(5) $77,001 to $101,000 premium rate: 11% reduction

(6) $101,001 and up premium rate: 10% reduction

Okla. Admin. Code § 380:41-3-5

Added at 16 Ok Reg 3029, eff 7-12-99