Industry groups believe that an overhaul of Oklahoma's workers' compensation system, a measure signed by Governor Mary Fallin in May, will decrease overall loss costs by as much as 14.6 percent beginning in early 2014.
According to the National Council on Compensation Insurance (NCCI), which supported the overhaul, the reductions represent workers' compensation premium for indemnity and medical payments and associated adjustment expenses.
One provision of law, SB 1062, includes replacing the state's current workers comp court with an administrative dispute-resolution system, a transition that will occur in February.
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