The new Board of Directors is an independent body of fiduciaries entrusted with:

• Setting overall administrative policy for BWC;
• Advising BWC’s administrator on all policy and operational matters;
• Safeguarding the assets of Ohio’s workers’ compensation system, including maintaining the solvency of the State Insurance Fund;
• Providing independent verification of BWC’s financial and operational performance.

Broader representation

The BWC Board of Directors has 11 members who represent the interests of Ohio workers and employers, and the public at large. The board also includes members with professional expertise in financial accounting, investments and securities, and actuarial management.

• Three members represent Employers
• One for self-insuring employers
• One for employers with more than 100 employees
• One for employers with fewer than 100 employees
• Two members represent Employee Organizations
• One member represents Employees
• One member represents the Public
• Two members are Investment and Securities Experts (and must be Ohio residents)
• One member is a Certified Public Accountant
• One member is an Actuary

The new BWC Board of Directors provides greater professional expertise to guide policy and guarantee sound decision making.

• The investment and securities experts serving on the board will oversee BWC’s assets and provide strategic direction for making investments.
• The law that created the new Board of Directors also calls for a dedicated member who is an actuary. This professional expertise is critically important for sound rate making and setting policies fairly.

Transparency & Accountability

The make-up of the new Board of Directors and required duties of each member ensure greater transparency and accountability within Ohio’s workers’ compensation system. Board members will consistently inspect BWC’s policies and processes, and provide the agency’s administrator with greater input and guidance.

• The new board will serve as fiduciaries, thus making the members more accountable for their decisions.
• The new board will be active and work with the administrator to develop the overall administrative policy for BWC — rather than simply advising and consenting.
• The new board will have specific committee assignments and will engage on policy issues as they are being developed, not after the fact.
• The new board will be required to meet with the governor annually to evaluate the performance of the BWC Administrator.
• The new board will be required to conduct an actuarial investigation and will consistently inspect and review BWC’s policies and processes.