Effective July 1, 2017, Ohio employers can request that a workers’ compensation claim resulting from a motor vehicle accident that is likely to be subrogated be paid from the Ohio Bureau of Workers’ Compensation’s (BWC) surplus fund account rather than be charged to the employer’s experience.
Prior to this new process, Ohio employers had no reprieve from higher workers’ compensation premiums and loss of group rating eligibility, despite an auto accident not being their fault.
OIA member support
This new process is the result of the passage of Ohio House Bill 207, which OIA members Jim Klingensmith, CIC of L. Calvin Jones & Co. in Canfield, Mike Heister, CIC of Heister Insurance in Cincinnati, and Tom Lucci, CPCU, ARM of National Risk Management Services Inc. in Chagrin Falls provided testimony in support of this issue in the House and Senate insurance committees.
Initially, the form BWC developed for employers to apply for this new process required multiple pieces of supporting documentation that would have been difficult to obtain, such as the at-fault party’s auto insurance declaration page.
This raised significant concerns because it would likely be impossible for an employer to obtain this information. Without it, an employer would not be able to benefit from the new process to have a motor vehicle accident claim that is not their fault be charged to BWC’s surplus fund.
With this in mind, OIA arranged a meeting with several members of BWC’s actuarial and legal teams – including BWC Chief Actuary Chris Carlson -- to express concerns.
As a result of the meeting, BWC revised the form. Now only two key pieces of supporting insurance documentation are required to be submitted by an employer with the application: An auto insurance ID card can be provided in lieu of a dec page.
Educate commercial clients
A win for Ohio’s employers, this new BWC process corrects an inequity that used to exist by punishing employers that were in a situation that may be no fault of their own.
We encourage you to educate your commercial clients about this new process so they can take advantage of it should they be involved in a motor vehicle accident that meets this criteria.
Questions? Contact OIA’s Government Affairs Manager Carolyn Mangas.
Both resident and non-resident agents that do business in the state of New York must submit cyber notices by the end of this month. The deadline has been extended to Oct. 30.
This new data security regulation imposes new obligations on every resident and nonresident agency as well as resident and nonresident agents licensed in New York. Learn more about how these requirements will impact your agency.
Read full article from ia magazine
Check out this special message from IACON17 breakout session speaker Ryan Hanley. He'll be sharing digital marketing best practices that you can implement in your agency right away to start getting results.
Ryan -- aka the IA channel's most vocal cheerleader -- is the SVP of Marketing at TrustedChoice.com and managing editor of Agency Nation.
Learn more about IACON17
We have some exciting news to share...
Ryan Hanley is presenting the digital marketing breakout sessions at IACON17! (insert happy dance)
Ryan -- aka the IA channel's most vocal cheerleader -- is the SVP of Marketing at TrustedChoice.com and the managing editor of Agency Nation. Ryan helps brands and businesses find their audience, tell their story and win the battle for attention online.
Ryan will be sharing digital marketing best practices that you can implement in your agency right away.
Get to know Ryan in his new video series The Show.
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Here’s a glimpse into the unique -- dare we say fun -- side of IACON17:
Live music from a really great local band
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Mimosa bar (we’re taking breakfast to the next level…)
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will be performing at the iconic Bluestone in downtown Columbus