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West Virginia has delinquent workers’ compensation payments valued at $11.4 million outstanding as of July 13, with 5,450 employers overdue on their payments to BrickStreet Mutual, according to Insurance Commissioner Jane L. Cline.

Jan. 1 the policies of all West Virginia employers subscribing to the former Workers’ Compensation Commission transferred to BrickStreet Mutual Insurance.

Cline sent a July 25 reminder to West Virginia employers telling them to pay what they owe right away or be subject to penalties and repercussions if they fail to pay their overdue workers’ compensation premiums.

If the premiums are not received by BrickStreet Insurance by Aug. 1 the employer will be declared in policy default, will be placed on the Private Market Default List and be forced into the Uninsured Employers’ Fund.

“We encourage those employers who have not complied to immediately contact BrickStreet Insurance to make payment arrangements,” Cline said. “The Insurance Commission considers it absolutely critical that the exposure to the Uninsured Employers’ Fund be limited.

“We continue to meet with other state licensing agencies to take coordinated action against business licenses and permits when an employer fails to maintain workers’ compensation coverage,” she said.

The Insurance Commission may also take additional actions against uninsured employers such as imposing fines of up to $10,000, filing injunction complaints in Circuit Court to cease business operations, and taking appropriate action against company owners and officers.

Cline said the Insurance Commission emphasized that privatization of the workers’ compensation system is a very positive step for West Virginia’s business environment and will benefit all of its citizens; however, for the system to work it is imperative that employers do their part by complying with the law.

Source: West Virginia Department of Insurance

Topics Workers' Compensation Commercial Lines Business Insurance Virginia