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BIA Distributes $3.2 million in L&I Refunds to Members
The Building Industry Association of Clark County (BIA) is helping its members weather the COVID-19 storm by distributing L&I refund checks to members a month early. The BIA’s 227 members enrolled in the L&I rebate program (R.O.I.I. Select) are set to receive more than $3.2 million this week. Last year, the R.O.I.I. Select program returned a record-breaking $2.6 million to local contractors.
“We can’t thank the BIAW leadership enough for working to provide L&I refund checks a month earlier than expected. Since our industry was shut down for a month, the refund will help R.O.I.I. Select participant companies stay afloat and increase their ability to purchase Personal Protective Equipment (PPE) for employees,” said BIA President Dave Myllymaki. “BIA members, especially those in the R.O.I.I. Select program, are committed to ensuring health and safety standards are practiced so we can protect employees and minimize the likelihood of a larger spread of COVID-19.”
R.O.I.I. Select is a group insurance program offered by the Building Industry Association of Washington (BIAW), incentivizing participating companies to focus on jobsite safety to protect their employees, reduce frequency of injuries, and the severity of costs associated with workers’ compensation claims. Participating companies receive refunds when the group’s premiums exceed their losses. 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.
Statewide, the Building Industry Association of Washington’s (BIAW) retro program delivers the highest refunds in the industry with over $27.4 million dollars to be distributed this year, representing a 15%-43% return for participants, in the R.O.I.I. Select program. Percentage of return depends on many factors such as safety records, adherence to program policies, and more. The program serves over 1,820 companies statewide, representing approximately $76.5 million dollars in workers’ compensation premiums.