Return on Industrial Insurance (R.O.I.I.)

 

What is R.O.I.I.? 

 

Return on Industrial Insurance, or "Retro", is name used for programs the State of Washington allows employers of like businesses to participate in whereby they can receive refunds on their L & I premiums. It's basically an incentive the State offers to companies that prove themselves to be safety conscious and careful about their claims management procedures. Currently approximately 6000 construction related businesses across the state and 600 locally participate in our program
R.O.I.I. is the specific Construction Industry program that BIAW administers in cooperation with the State of Washington.  For more information on ROII and to receive an estimate of how much your company would have saved were it enrolled, call Membership Director Bill Taylor or email him today.
  
Benefits of R.O.I.I.
•  Refund potential
• In House Claims assistance
•  Free Safety assistance
•  Low risk vs. Individual Retro option
  
Why R.O.I.I.?
•  Performance: R.O.I.I. has good, consistent refunds and low fees.
•  Low upfront enrollment fee: $150.00 or 1.5% of L & I premiums.
•  Low membership fees: Local association fees range from $300 to $650.
•  Group size: Over 6,000 members = $180 million dollar premium base.
•  Low risk: Never had a penalty year where participants had to pay in.
•  In-house claims staff: Swift closure of L & I claims and a vested interest in the
       program's success.
•  Safety assistance: Provide programs and information to keep members abreast of
      safety issues / regulations.
•  30 year history: R.O.I.I. is the one of the oldest Retro groups in the State. NEVER HAD A LOSS YEAR
•  Numerous Risk Classes: We accept more risk classifications than any other construction
       industry related Retro program.
•  Options: Our Standard program option does not involve mandatory kept
       on Salary and Light Duty requirements. The Select program option does involve these
       requirements; and by abiding by them, companies could potentially earn refunds of
       45 -65 %, or more. The 5year average refund for Select Participants is 57%.