September 29, 2015
Liberty Mutual Insurance’s Northwest Business Insurance operation today announced an overall retrospective rating adjustment and savings of $858,000 for businesses participating in its Oregon Restaurant and Lodging Association (ORLA) group workers compensation insurance program.
The rating adjustment reflects the group’s strong collective safety performance for the policy year ending December 31, 2014, and accounts for premium adjustments, tax savings, and non-disabling medical reimbursements. The total savings under the plan is nearly 15% of the group retro premium.
“As we celebrate more than 30 years in partnership with Liberty Mutual Insurance, we’re proud to have saved our workers compensation group program members another $858,000 adding to the more than $100 million in insurance cost savings since the program’s inception,” said Jason Brandt, ORLA President and Chief Executive Officer.
“Liberty Mutual provides ORLA members access to industry-specific risk control services, claims management experts and return to work specialists to help participants maintain a safe work environment and achieve successful workplace injury outcomes,” noted Denise Moore, Liberty Mutual Insurance Territory Manager, Northwest region.
Businesses that wish to learn more about Liberty Mutual Insurance’s programs should contact a Liberty Mutual appointed independent agent or visit www.libertymutualgroup.com/business.
About Liberty Mutual Insurance
Liberty Mutual Insurance helps people preserve and protect what they earn, build, own and cherish. Keeping this promise means we are there when our policyholders throughout the world need us most.
In business since 1912, and headquartered in Boston, Mass., today Liberty Mutual is a diversified insurer with operations in 30 countries and economies around the world. The company is the third largest property and casualty insurer in the U.S. based on 2013 direct premium written as reported by the National Association of Insurance Commissioners. Liberty Mutual is ranked 78th on the Fortune 100 list of largest corporations in the U.S. based on 2014 revenue. As of December 31, 2014, the company had $124.3 billion in consolidated assets, $104.0 billion in consolidated liabilities, and $39.6 billion in annual consolidated revenue.
Liberty employs more than 50,000 people in approximately 900 offices throughout the world, and we offer a wide range of insurance products and services, including personal automobile, homeowners, accident & health, commercial automobile, general liability, property, surety, workers compensation, group disability, group life, specialty lines, reinsurance, individual life and annuity products. You can learn more by visiting www.libertymutualinsurance.com.