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The Deloitte study
The past two years have brought tremendous change to BWC as we've worked to
strengthen our accountability and commitment to Ohio’s injured workers and
employers. Now, we’re pleased to announce the next step in this ongoing process
– the completion of a comprehensive, independent study of our rating programs.
To continuously progress, we must keep reviewing our processes and policies
internally and improve them as needed. However, it also helps to get an
objective opinion. To do this, we hired Deloitte Consulting LLP to provide a
comprehensive study of our rating programs.
We’ve created this new section of our Web site so our customers and stakeholders
can review the study’s findings and recommendations. (see Resources on the right.)
We will also post regular updates to the site to keep you up to date as we
implement changes recommended in the study.
Why the study was conducted
House Bill 100, a sweeping workers’ compensation reform bill passed by the Ohio
Legislature in 2007, called for an independent review of base rates and all BWC
rating programs by a reputable consulting firm. After a competitive bidding process,
we chose Deloitte Consulting LLP.
Why we chose Deloitte
Deloitte is an international firm known for its financial advisory,
tax, consulting and auditing services. Its private-sector clients include companies
such as Allstate and MetLife. It also provides services to public-sector entities such
as the state of Texas and the U.S. Department of Justice.
Why the study is important
This study, conducted by an objective source, provides a candid and complete review of
our rating programs, including:
- Methods of rate calculation;
- The use of discount and safety incentive programs;
- Ongoing improvements to group rating;
- The level of net assets necessary for a stable system;
- A comparison of Ohio’s system to those of other states and private insurers.
We'll use the study’s findings to help pinpoint our strengths and weaknesses. We'll
also use it as a guide to help us target areas of improvement in determining
premiums, crafting public policy and serving Ohio’s employers and injured workers.
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