Loss costs are an industry measure of the anticipated cost of workplace injuries, including medical treatment and lost wages. Insurers use these costs as a key factor when calculating workers’ compensation premiums, so lower loss costs can help reduce insurance expenses for Oklahoma employers.
“This continued reduction demonstrates the strength and stability of Oklahoma’s workers’ compensation system,” said Commissioner Mulready. “Lower loss costs help keep insurance affordable for employers while supporting a strong business climate across our state.”
The National Council on Compensation Insurance (NCCI), a licensed rating and advisory organization, collects annual data on workers’ compensation claims for the insurance industry. NCCI is authorized to make recommended loss-cost filings on behalf of workers’ compensation insurance companies in Oklahoma and 37 other states.
The new loss costs will go into effect for new and renewing policies effective January 1, 2027.
If you have questions about other insurance issues, please contact the Oklahoma Insurance Department at 800-522-0071 or visit our website at www.oid.ok.gov.
ABOUT OID
The Oklahoma Insurance Department, an agency of the State of Oklahoma, is responsible for the education and protection of the insurance-buying public and for oversight of the insurance industry in the state.
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