News & Info

Remember to Renew ROII

Open enrollment for the 2007-2008 Return on Industrial Insurance (R.O.I.I.) sometimes called Retro program has begun. Every year participants in the program must renew their application for the upcoming plan year. New participants are also encouraged to enroll into the program to receive an average refund of 25% of L & I premiums.

Being involved in a Retro program is the only way you have the potential to receive a refund on your L & I premiums. Last year, the Building Industry Association of Washington (BIAW) distributed over 32 million dollars in refunds to its members.

Each July, Olympia Master Builders (OMB) hosts an association-wide barbeque and distributes approximately 1.5 million dollars in refunds to our members that are enrolled in the program! With an average refund of 25% since 1982, participation in our program can save companies an average of $1,040 per employee annually. Who can refuse to participate?

Acceptance criteria includes:

• Have a minimum of one full year of history (July through June) reporting industrial insurance hours to L & I.
• Have a positive loss ratio with L & I (premiums have exceeded losses).
• Be a member of an association affiliated with BIAW (such as Olympia Master Builders).
• Report under at least one of the 100 acceptable Risk Classifications approved for our group. "Primarily construction related" criteria is also considered. (Premiums paid by members during the plan year under all risk classifications are considered for refunds).
• Have an active industrial insurance account with L & I.
• Be current in all amounts owed to L & I. If under a payment agreement, all payments must be current.
• Must separately enroll all sub-accounts that are substantially the same nature of business. Failure to do so will result in denial by L & I for all related accounts.

If you have a building related business we urge you to inquire about eligibility in this program. BIAW will gladly give you a free, no obligation assessment of how much money your company would have received from past enrollment so that you can judge the feasibility.

Companies must renew their application each program year for participation in the R.O.I.I. program. This year, if your renewal application is received at BIAW by March 30, it will be entered into a drawing to receive a $1,500 travel voucher good at the travel agency of your choice, compliments of the BIAW.

If you think this is too good to be true or you would like further information on how to sign up for the program, please call OMB at 360-754-0912 or 800-456-6473. Or call the BIAW directly at 360-352-7800 or 800-228-4229. The deadline for annual enrollment is April 30, 2007.