Workers’ Compensation
Save up to 53% on your premiums with traditional Group Rating, or up to 63% on Group Retrospective Rating through the ChamberComp® Program in partnership with Sheakley.
How it Works
Be part of one of the largest group savings programs in the state. ChamberComp™, in partnership with Sheakley, offers Group Rating and Group Retrospective Rating programs. Combined across our more than 30-year partnership, these two programs have saved Cincinnati Chamber members over $750 million in Ohio Bureau of Workers’ Compensation premiums.
Overview
Ohio employers have the opportunity to participate in BWC’s Group-Experience-Rating Program or Group-Retrospective-Rating Program. While these programs are not required, they do provide an opportunity to significantly reduce workers’ compensation premiums, while increasing awareness of safety and risk-management strategies.
Group Rating
This program provides a discount up to the maximum of 53%
Members save $4,300 on average
This program provides a discount, shown on your premium statements, up to the maximum of 53%. That’s immediate savings on each payment to the BWC! The better your claims history, the more you can save. More than 3,400 Cincinnati Chamber participants save over $14.7 million in this program — that’s an average of just over $4,300 per participant.
Group Retrospective
Participants can expect a refund up to 63%
Members save $24,000 on average
Commonly referred to as “group retro,” this program provides a refund to qualified participants and has proven to be a valuable option for companies who may not qualify for the highest group rating discounts due to one or more claims. Although participants need to wait for their refund to be paid by the BWC, current participants are expecting up to a 63% refund. More than 560 Cincinnati Chamber participants are projected to receive refunds of over $14.4 million combined – that’s an average of more than $24,400 per participant.
Qualifying members can earn additional BWC rebates from 2-4% by participating in our Greater Cincinnati Safety Council for FREE.
Benefits
- Sheakley is headquartered in Cincinnati and uses a team based service model to provide comprehensive, expert claims management.
- Sheakley’s service representatives are experts in identifying pre-existing conditions to help reduce employers’ premiums. Sheakley is a leader in filing Handicap Reimbursements for pre-existing conditions, dedicated to finding every opportunity to maximize savings.
- Always looking out for the best interest of Cincinnati companies, Sheakley will review your company and evaluate every savings opportunity for your business, including group rating and group retro savings programs.
- Sheakley and the Cincinnati Chamber enjoy a 30+ year partnership and a proud history of accurate savings projections.
Additional Info
Sheakley, the Cincinnati-based administrator of ChamberComp®, determines eligibility for participants using company claims and payroll records provided by the state. Because ChamberComp™ is the largest program in southwestern Ohio, there are more group options for your company within the program, which could mean better savings than smaller programs.
