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Welcome to the new WVWCA website and blog. Here you can post any issues related to West Virginia Workers Compensation to share with members and colleagues.
Welcome to the new WVWCA website and blog. Here you can post any issues related to West Virginia Workers Compensation to share with members and colleagues.
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WV SELF-INSURERS SECURITY FUND
At its May 22, 2014 meeting, the Workers’ Compensation Industrial Council was advised that assessments for the Self-Insurer’s Security Fund must continue at least through FY 2018.
The Security Fund covers defaults by self-insurers having claims up to June 30, 2004. Claim on or after July 1, 2004, are secured by the Self-Insurers Guaranty Fund.
The Security Fund deficit was triggered by bankruptcy defaults of R. G. Steel Wheeling, LLC, W-P Coal Company, Celotex Corp. and by four affiliates of Castle Rock Mining: Birchfield Mining; Chesapeake Services ; Davidson Mining; and M.A.E. – West.
The FY 2014 assessment (for fiscal year ending June 30, 2014) was $1,208,342. It was allocated among active and inactive self-insured employers. The assessments are projected to continue through FY-2018.
Henry, how are the assessments allocated among active and inactive self-insured employers?
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Effective 01/01/2016 the WV W workers’ compensation mileage reimbursement is $0.54 cents per mile.
Thank you.