OKLAHOMA CITY — Gov. Mary Fallin has signed a bill to overhaul the state’s workers’ compensation system, a top priority for Republican legislative leaders who say the state’s current system is a detriment to business and industry in the state.
Fallin signed the bill on Monday that changes Oklahoma’s current court-based system to an administrative structure, saying it will dramatically reduce the costs to businesses.
The bill was fiercely opposed by Democrats, who complain that the cost savings come at the expense of injured workers, whose benefits are slashed by roughly $120 million as a result of the bill.
The House also approved a bill Monday to convert the nonprofit CompSource Oklahoma into an independent mutual company. The agency writes about one-third of Oklahoma’s workers’ compensation policies.