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Ohio BWC Premium Refunds Issued For $255 Million

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Ohio BWC Premium Refunds Possible

The Ohio BWC premium refunds were issued this week to 24,140 overcharged employers across the state.   The Ohio BWC originally had an almost $1 billion ruling to pay for premium overcharges.

Building Ohio BWC Premium statehouse oin ohio
Wikimedia commons – Bob Hall

There are many articles on the situation in this blog.

The Ohio BWC is one of the few remaining monopolistic funds in the US.   The BWC has not been administered without having a few problems along the way including investing in gold coins.

The original case was appealed and the amount owed was lessened significantly by the courts.   The case was finally settled this week for $425 million which is less than one half of the original ruling.

Two interesting side notes were that

  • If you read the article title and then read the preceding paragraph, the state retained $160 million for the Ohio State Insurance Fund.
  • A comment was made in the original AP report that many companies did not know they were covered by the class action and did not pursue the matter as a party to the lawsuit.

    Picture Ohio BWC Premium Dollars
    StockUnlimited

Our company had actually offered our services to Ohio employers to assess whether they were not involved in the matter.   The state of Ohio even budgeted out and spent $$ on an advertising campaign to let employers know there were possibly refunds available.

We were offering our services for a minimal charge to Ohio employers.  However, we found it to be a wasted effort as the response was very small to say the least.

It is beyond my comprehension why more companies did not pursue receiving a premium refund.  The worst that could have happened was to be told No after filing the proper paperwork.

There is no sure number on how many of the smaller employers would have received a premium refund.   The closest reference found was “a large number.”

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James Moore

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Mgmt 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

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