OhioBWC - Basics: Are you purchasing a business in Ohio?
Are you purchasing a business in Ohio?
When you purchase a business in Ohio, you will assume the business’
claims experience (claims costs history for the oldest four of the most recent five years)
either in part or whole.
How does this process begin?
Former employer and successor jointly complete and file a
Notification of Business Acquisition/Merger or Purchase/Sale
(U-118);
OR
Former employer cancels coverage and new employer applies for coverage
with the Application for Ohio Workers’ Compensation Coverage (U-3).
BWC uses claims and payroll experience of the acquired operation to
calculate premium obligations of new owner's operation.
