JL_risklogo.png

Workers Comp Audit Stress Reducer
Use It For Your Next Premium Audit

West Virginia Assigned Risk Pool

Facebook
Twitter
LinkedIn

West Virginia Assigned Risk Pool Still Exists

Employers may be placed in the West Virginia Assigned Risk Pool.  As of 1/1/09,  Brickstreet will have the option to not renew Workers Compensation policies with certain employers.

West Virginia Assigned Risk Pool State Logo with Flower and Map
123RF

The West Virginia Assigned Risk Pool is where a group of insurance companies will be assigned to provide coverage for employers that could not find coverage in the voluntary/regular market. The carriers will accept the employers placed in the Assigned Risk Pool, but will charge the employers a much higher premium versus the same employer in the voluntary market.

At the West Virginia NCCI conference that I attended on 11/12, the presenter said there were three carriers that would accept assigned risks. Surprisingly, Brickstreet was not one of those carriers. I had to step away from the conference and did not hear who the Assigned Risk Pool carriers were going to be as of 1/1/09.

Fraying Rope Illustrating West Virginia Assigned Risk Pool Black Background
StockUnlimited

If you are placed in the Assigned Risk Pool, that does not mean that your company is a bad risk for Workers Compensation. It could result from the carriers in the voluntary market not wishing to write Workers Comp policies for a certain type of employer. For example, trucking companies could not find policies without being placed into the Assigned Risk Pool, even though some of their E-Mods were less than .8!

In quite a few of my previous posts, I pointed out how to get out of the Assigned Risk Pool. You should do everything in your power to get your company out of the Pool, as the rates for the Assigned Risk Pool can be very steep. If your E-Mod is over 1.5, a safety program will need to be instituted as soon as possible.

With 190 carriers that are or will write voluntary coverage in West Virginia, there are many options other than the Assigned Risk Pool.

©J&L Risk Management Inc Copyright Notice

Facebook
Twitter
LinkedIn

Related...

James J Moore - Workers Comp Expert

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Management Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications

Subscribe

Get the latest workers' comp news FREE!

Name
This field is for validation purposes and should be left unchanged.