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BIA Distributes $2.2 Million Dollars to Local Industry Members
BIAW’s Retrospective Rating Group Delivers $18 Million Statewide
The BIA’s monthly meeting, held this month during a luncheon at Club Green Meadows, was a lucrative place to be yesterday. 194 local members received reimbursement checks for a total of $2.2 million dollars. Members who received rebate checks are enrolled in the Return on Industrial Insurance program. (R.O.I.I.® Select)
R.O.I.I.® Select is a group insurance program offered by the Building Industry Association of Washington (BIAW) that creates financial rewards for companies who reduce the frequency of injuries and the severity of their cost. Participating companies receive refunds when the group’s premiums exceed their losses. Over the past three years BIA members have enjoyed an average return of 38%.
R.O.I.I. Select is the largest retrospective ratings group in Washington and has never experienced a loss in the program’s 40-year history. It boasts the highest claim closure rate and the lowest average claim cost of all retro programs in the state. Last year the program served 1,917 companies statewide with $73 million dollars in premium base.
The Building Industry Association (BIA) of Clark County is a non-profit trade association representing the interests of all businesses involved with real estate, land development, homebuilding and construction.
Stephanie Frisch, PR Director