Retrospective Rating Program

SWCA Retrospective Rating Plan

The Washington Department of Labor and Industries workers compensation division established a rule in 1980 to allow associations to sponsor Work Comp. Retrospective group rating plans for their members as an option for employers. Rather than just paying the standard workers compensation premium to the L&I for work comp., Employers could participate in a group plan that would provide a “look back” against the “actual” losses paid by the participating employers and then the L&I would calculate the premium the employers “should have paid” given the experience they had over that year. If the losses paid generated a larger premium than the group paid, there would be an assessment for additional premium BUT if the losses paid generated a smaller premium than the group paid, then L&I would give the group a refund.

In 1997 SWCA established a Group retrospective rating plan and employed Willis to be the administrator of this group. Richard Brownell was the individual at Willis to perform these administrative duties. The plan the SWCA adopted created a list of standards that each employer participating in the group plan had to meet. This was strictly enforced and adhered to in order to assure the group the best potential for refunds each year. The experience of SWCA’s retro group has been “the best in the state” year after year. SWCA’s employers have enjoyed refunds of 50% or better.

Some of the prequalification’s each employer must meet include the following:

1. Adequate sized premium to reduce risk of non-performance. Generally set at $40,000

2. A commitment to safety by top management. This includes a requirement to have an employee attend each of the 6 required safety meetings held throughout the year; also, a periodic review of their “written” safety program.

3. A commitment to a drug free workplace. Each employer must have a written drug policy/program.

4. Financially sound. Each employer agrees to submit to an underwriting review of their financial condition in order to participate in the program each year.

5. Agree to employ a “keep on Salary” program for injured employees for at least 90 days.

Tight adherence to this program will ensure continued favorable results for this group. Current administration of this program is being performed by Precision Bonding, LLC. Eric Sander is the representative for them performing the administrative duties.

Business Cards
Advertisements
Programs/Events
Upcoming Events
SWCA Annual Texas Hold'em Poker Tournament Apr 25, 2014 06:00 PM (US/Pacific) — Heathman Lodge 7801 Greenwood Dr. Vancouver, WA
Thirsty First Thursday May 01, 2014 04:00 PM (US/Pacific) — Charlies Bar and Grill 620 4th Ave. E, Olympia Wa 98501
Risky Business Seminar Series - Getting Paid May 15, 2014 01:30 PM (US/Pacific) — Location of Event: BBSI 8100 NE Parkway Drive, Suite 200 Vancouver, WA 98662
Thirsty Third Thursday – Sponsored By Madden Industrial Craftsmen May 15, 2014 04:00 PM (US/Pacific) — Main Event East Sports Grill 3200 SE 164th Ave
Dozer Days May 17, 2014 11:00 AM (US/Pacific) — Ridgefield WA
Previous events…
Upcoming events…