OKLAHOMA CITY, Dec. 16, 2013 /PRNewswire/ -- Oklahoma Insurance Commissioner John D. Doak released the following statement about the Oklahoma Supreme Court ruling handed down today, rejecting a constitutional challenge to the new workers' compensation law.
"The ruling today is great news for economic development and jobs in the state of Oklahoma. Oklahoma currently has one of the highest average costs of workers' compensation benefits in the nation, which has had an enormous impact on our state economy. The new law has already shown significant workers' compensation insurance rate decreases across the state and will continue to bring positive change to our state by ensuring Oklahoma is one of the best places to do business. I applaud the court for the expedited ruling to uphold the law and reject the challenge brought against it," said Doak. "The Oklahoma Insurance Department stands ready to assist businesses, the Legislature and the Workers' Compensation Commission in moving forward with implementation of the historic new law."
About the Oklahoma Insurance Department
The Oklahoma Insurance Department, an agency of the State of Oklahoma, is responsible for the education and protection of the insurance-buying public and for oversight of the insurance industry in the state.
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SOURCE Oklahoma Insurance Department