OhioBWC - Employer: (Obtaining Self-Insurance)

OhioBWC - Employer: (Obtaining Self-Insurance)

	Obtaining Self-Insurance
Ohio law requires employers with one or more employees to obtain workers’ compensation coverage or be granted the privilege of self-insurance for liabilities associated with work-related accidents or occupational diseases. Thus, employees are either covered through State Insurance Fund or by a self-insuring employer. Employers realize several benefits from self-insurance including: Administration of your own workers’ compensation program The potential for claims cost savings.
List of Self-Insuring Forms Available
Besides the above-mentioned forms, the applicant also must submit for review:
All financial records, documents and data necessary to provide a full financial disclosure (as audited by a certified public accountant). This includes a balance sheet and a profit and loss statement for the current year and the previous four years; Organizational plan for the administration of the workers’ compensation law; Proposed plan to inform employees of the change from a state-fund insurer and procedures employees must follow when filing for compensation and benefits; Secretary of State papers providing proof of registration to do business in Ohio; Information on your company’s risk and claims-management procedures to establish a safe and more cost-effective workplace, including: Active senior management leadership; Employee involvement; Return-to-work practices; Communications affecting employee safety and health; Claims reporting practices; Coordination of safety and health practices; Training; Written and communicated safe work practices; Written safety and health policy; Record keeping.
In addition, an employer must submit board minutes when there is an organization merger or a name change of an employer.
Self-Insured Public Employer Questionnaire Public employers submitting a new or renewal application must also complete a questionnaire. All questions are financial in nature and responses should correspond to the most current audited financial statements. You must answer ALL questions to have your application processed.
Applicants must submit completed applications and supporting documentation 90 days in advance of the desired effective date of self-insurance. Mail completed applications and supporting documentation to:
Ohio Bureau of Workers’ Compensation
Self-Insured Department
30 West Spring St.
27th Floor
Columbus, Ohio 43215-2256.
BWC will process the applications and documents, and contact the applicant if there are any additional questions.