Find Out if You Qualify
September 20, 2012 - 9:46am
Qualifications for Retro/Safety
The law requires that you be a member of the sponsoring organization. If you are not a Washington Farm Bureau member we can sign you up when you enroll in our retro program. Membership fees vary by county and range from $65 to $100.
An enrollment fee equal to 1% of your annual standard premium is required at sign up.
You must report hours in at least one of the risk classes covered by the Farm Bureau Retro/Safety Program.
Your annual L&I premium must be at least $5000.
Your loss ratio must be 0.9 or lower. We look at the loss ratio history for at least the three most recent years.
- To compute your loss ratio, refer to your most recent L&I Quarterly Composite Claims Report and divide the figures in the last column (Total Inc. Loss (DEVEL.) by that year's total standard premium. For example if your standard premium is $5000 and your total incurred losses are $4560, your loss ratio would be 0.91. ($4560 divided by $5000)
- So we can review previous years, please click here for the information release form. L&I will not provide information to us without it.
- Used correctly, loss ratio can be a good predictor of future performance and it is the one indicator members can improve from one year to the next. It is not your experience modification factor.
Participation in our safety program is required.
Other conditions are in our contract. For example, our method of releasing Retro refunds is explained.
If you believe in a safe workplace and want to receive industrial insurance refunds please fill out the Retro/Safety Program Authorization Form and send it to us so we can help you begin the application process. FAX (Retro): 1-360-705-0419
If You Don't Qualify
If you don't meet our retro program requirements we offer the Claims and Safety Investment (CSI) Plan. In this program our claims managers and safety directors are available to help you. We will enroll you into the Farm Bureau Retro/Safety program when you meet our current program requirements.
If you have questions about enrollment contact Jim Newhall, Director of Retro/Safety, at 1-800-357-9975 ext 114 or email.