Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-11-07
WORKERS
HAVE Received "
STATE AWARDS
Present Rate Is As Low AS Is
Consist, Bureau Report
Says.

Bismarck, N. D.. Nov. North
Dakota's workmen's compensation
bureau has made awards to Abb
people since it started in business a
few years ago. With the moneys set
aside to pay these awards, 1t had soon
after The beginning of the present
year, $273,571.74 as a general sur
plus; $76,2S1.06 amount of this sur
plus has been earned in interest and
the rest Of the amount is that set
aside by the law creating the bure6u.
THE total earned premium is
/$l.374, 204.17," say the report in dis
cussing the financial report Of the
bureau since it was organized; Of
this s~617,595.75 represents
~S224,S87.3S the total amount of
claims reserve. AS previously stated,
the items under claims reserve in
clude no . loading for unreported
claims for accidents prior to March
l, 1922, or for claims that tho bureau
may De requested to reopen, al
though both of these constitute a real
liability. The total amount Of credit
merits, $~19.152.53 and OF dividends,
$~71,377.40. represent the total amount
paid for the eight months period for
which they had been in effect. but do
not include\ dividends and credit
merits on partial earned premiums as
previously stated. The total amount
of penalties collected is 5: 4so.56."
In speaking Of the rates, which are
changed with each year. the present
rates having been in effect since a re-
vision July last. the report
Say Rates Can't BE Lower.
The level Of rates now in effect is
as low as safe insurance principles
will permit, although some changes
will be made in different classified
tons and he general level itself may
be reduced If future experience jus
titles such reduction. The original
rates, as applied in the 1920 period
were necessarily higher than the
present rates since at that time no
North Dakota experience was avail
able and It was necessary to place the
rates sufficiently high to guarantee
the %solvency of the fund"
In connection with this, the bureau
announces that the catastrophe insur-
ance, formerly carried by the board,
had been discontinued. +,
In Concluding its report, the hu-
reau makes this comparison Of the
rates and benefits of North Dakota
and some other states: "@
Compare With Other States.
1.-The present rates compare very
favorably with the rates Of like in
dustries in other states. In making a
comparison Of the rates with other
states, due consideration must be
given, to the benefits allowed in such
states. The benefits provided by the
workmen's compensation bureau. in
the state of North Dakota are ex-
ceeded by no state in the union. The
benefits at present allowed In states
of Minnesota and of New York more
nearly equal those OF North Dakota
than do any of the other states. Fol-
zach Of the past. two periods the
bureau had declared ay15 per cent
refund dividend, which has resulted in
a is per cent reduction in the rates
for these periods Tor those employers
who have had a normal experience
and in addition to this a>further de.
crease in rates has been. brought
about by the credit merit rating sys.
tenn. : t'. &c. ,tt. 3% @
In presenting the report, the bureau
also presented an attendant report
showing the amount of money which
each industry had earned for%the pro.
lection. OF It's workers, or the loa6
upon each industry because. OF sLthe
failure Of the rates Ito meet the
awards. .H
Some Fail Nto Pay.
A number OF the Industries have
failed to pay for the awards given II
.H- o. e aEH IA Ef ~ -tIL L - a NV