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State of West Virginia - West Virginia Legislature

State of West Virginia - West Virginia Legislature

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compensation for persons directly employed by the <strong>State</strong> <strong>of</strong> <strong>West</strong> <strong>Virginia</strong>.There is a distinction between “Discretionary participant” and “Executive stateentity” such that a discretionary participant may participate in the Workers’Compensation program. Conversely, the OIC has sole responsibility formanaging the workers’ compensation risks <strong>of</strong> all executive state entities and forsupervising and controlling the workers’ program for such entities.32. Workers’ Compensation Request for Proposal (RFP)The Workers’ Compensation RFP was sent out to prospective bidders the latterpart <strong>of</strong> May. The RFP solicitation is being conducted as a direct solicitation tothe workers’ compensation insurance carriers. The effective date <strong>of</strong> coverage isto be September 1, 2011. Significant dates established are: Final written question submission deadline 06/30/2011 OIC responses to carrier questions 07/05/2011 Vendor RFP submission deadline 07/13/2011 Vendor presentations 07/19-20/2011 Opening <strong>of</strong> cost proposals/award date 07/22/2011The Acting Insurance Commissioner requested that I participate in the RFPevaluation committee and I graciously accepted.On June 13, 2011, I participated in a telephone conference with representatives<strong>of</strong> the OIC and <strong>West</strong> <strong>Virginia</strong> University (WVU). WVU released a RFP to obtainbids for selecting workers’ compensation coverage for their employees.Coverage is expected to be in place by July 1, 2011. The discussion centeredon BRIM’s enabling legislation which allows a trust funding program andselection <strong>of</strong> an outside bank to manage the trust. Various documents wereprovided the OIC including:• A February 14, 2005 opinion letter regarding the legality <strong>of</strong> the trust fundmethod <strong>of</strong> funding the <strong>West</strong> <strong>Virginia</strong> Insurance program;• A March 4, 2005 opinion letter regarding the tax consequences <strong>of</strong> the trustfund method <strong>of</strong> funding the <strong>West</strong> <strong>Virginia</strong> Insurance program;• February 15, 2005 from the Deputy Treasurer regarding the trust account.B. Marshall University/WVU Medical Malpractice Deductible Program• As <strong>of</strong> May 31, 2011, Marshall has deposited $5,494,661.38 into the escrowaccount. The year-to-date cumulative interest totals $120,568.94 There havebeen several disbursements during fiscal year 2011 totaling $3,034,160.95.

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