North Dakota's Workers Compensation Agency To Rebate Refunds

The Bismarck Tribune is reporting:

Workforce Safety and Insurance will distribute the premium credits to about 22,000 employers throughout the state. They are the latest in a series of eight payouts to employers since 2005 that have totaled more than $774 million.

WSI board member Ed Grossbauer said the payments mean employers in good standing will end up paying half their normal premium.

I don't follow Workers Comp but I was told that it is highly unusual for refunds to be made; generally, the rates are just cut until the books "balance," as it were. I don't know.

But, it seems, the bigger story is how well roughnecks looks out for each other in the field. The oil patch has to be the most dangerous place to work in North Dakota, similar to some dangerous aspects of farming and working around heavy machinery. I would assume premiums are based on actuarial studies from across the nation and on North Dakota's "comp" history. Unless I'm missing something, this sounds like another huge story coming out of North Dakota, and out of the oil patch.