Tuesday, August 2, 2011

Rates for Ohio Marine Industry Decrease 20%

The Ohio Bureau of Workers’ Compensation (BWC) has reduced its rates for marine industry employers by 20 percent, effective July 1, the BWC said. The change 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 harbor worker activity based on total tons of waterborne domestic cargo handled through a state’s ports.

The Marine Industry Fund provides coverage for injuries, disease and death resulting from Longshore and harbor worker duties for Ohio employers with employees who work on or about navigable waters, as required by the Federal Longshoremen and Harbor Workers’ Act.

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