In the recently published issue of Washington Business magazine, AWB writer Jason Hagey discusses the value of CompWise, AWB's workers' compensation retrospective rating program.
Since 1996 when the Association of Washington Business started CompWise, over 800 members have shared over $56 million in refunds. The refunds are generated by our participating members who have exceptional safety, accident prevention, worker treatment, return to work and claims management programs.
"The savings are rightly passed along to our participating members," AWB President Don Brunell added. "The retro refunds are returned directly to AWB members as a way for them to lower their workers' compensation costs."
AWB has retro programs for manufacturing, service and retail, wholesale, hospitality and facilities and property management.
CompWise is one of several public-private "retro" programs offered by AWB through the Dept. of Labor and Industries. Qualifying employers join CompWise as a way to lower workers' compensation premiums since Washington is a state which prohibits private insurance carriers from writing workers' compensation coverage---something AWB has lobbied to reverse.
In the latest issue of AWB"s magazine, Hagey reports that AWB members shared $9.4 million in refunds last year. Olympia-based coffee company, Batdorf & Bronson has participated in AWB's retro program since 1997. "We get back almost 15 percent of our premium just about every quarter, Jenny Huff, human resource director, said.
Print NW, the company which prints Washington Business Magazine, received a $40,000 workers' comp refund check last December from AWB.
Look for more details in the spring issue of Washington Business magazine.
