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Veneta adopts $2,000 per-claim workers’ comp deductible to cut premium costs
Summary
The Veneta Utilities Authority and Veneta City Council voted Feb. 20 to adopt a $2,000 per-claim deductible for the city’s CompSource Mutual workers’ compensation policy, officials said, citing projected premium savings and the city’s ongoing safety initiatives.
The Veneta Utilities Authority and Veneta City Council voted on Feb. 20 to adopt a $2,000 per-claim deductible for the city’s workers’ compensation coverage with CompSource Mutual, a change the city’s staff said could lower the annual premium if claims remain low.
Mister Francis, a city staff member presenting the item, told the board that packet estimates showed a range of premium figures depending on the deductible chosen and other rate multipliers. Francis said packet materials showed an estimate for a no-deductible renewal at about $280,000 and a $2,000-per-claim quote as low as $200,064; another figure in the packet…
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