Newsletter
PREMIUM RATES REDUCED FOR OCCUPATIONAL HAZARD INSURANCE
The Industry Categories and Premium Rate Schedule for Occupational Hazard Insurance has been revised by the Council of Labor Affairs. The average premium rate for occupational hazard coverage under the Labor Insurance program was reduced from the original 0.39% to 0.34%. The only exceptions to the rate reductions were the construction & engineering, wholesale, and retail industries, for which the premium rates were raised, and the coal mining industry, for which it was kept the same. The new occupational hazard insurance premium rates became applicable to all industries as of 1 January 1999.