Ohio’s BWC Provides 83.5 Moon Roundtrips
Unsurprisingly, Ohio’s BWC (Bureau of Workers Compensation), a monopolistic state fund, had a very scorching court decision rendered against it a few months ago. Rather than keep appealing the Appeals Court decision, the BWC decided to settle with certain policyholders.
If you have not had the opportunity to read the decision, you should follow the link above and read the decision. The judges lambasted Ohio’s BWC. The BWC was on the hook for $845 million.
The BWC allegedly picked the companies for discounts on an almost random basis. There was no tried and true discount structure as with all the other rating agencies including the NCCI and WCIRB.
The BWC was wise for not having the decision reviewed in the Ohio State Supreme Court. The settlement seemed to be a split between $0 and the $845 million owed to certain policyholders.
How was the 83.5 moon roundtrips calculated? According to WikiAnswers, 5,026,560 dollar bills, stacked end to end would cover a roundtrip to the moon. So, $420 million would be 83.5 roundtrips to the moon ($420,000,000 / 5,026,560).
Ohio’s BWC will likely rectify the situation to a point, but what of actually becoming a non-monopolistic state?
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