The scandal-wracked Ohio Bureau of Workers' Compensation is promising that the state's businesses will not have to pay more for comp insurance despite more than $215 million in investment losses.
BWC, in a statement issued Friday, said that the loss==which has been attributed to unauthorized actions by a fund manager==represented just 1.3 percent of its $15.5 billion total investment portfolio and "employer premiums will not be increased."
Revelations about the agency's losses last month forced the resignation of the BWC Director James Conrad after it was disclosed that a fund investment manager could not account for up to $12 million in rare coins he had purchased for the BWC.
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