Value of Retro
The two main objectives of PITB’s Transportation Retro group are to keep experience modification factors low and secure favorable refunds for their members.
According to L&’s most recent data, Retro participants on average pay lower premiums, have fewer time loss incidents, have a significantly lower fatality claims frequency, and are more likely to use the Stay-at-Work reimbursement program.
How Retro Works
Retro groups are organized by industry and sponsored by trade associations. Approved participants share risk by combining premium and losses. At the end of a plan year, when the premium is more than the losses, the group earns a refund. Members have the potential to earn significant refunds when they follow best practices to control for frequency and claims cost.
Joining a Retro Group
When you join PITB’s retro group you will work with Approach Management Services who is the third-party claims administrator for the group. Approach is an industry leader in workers’ compensation claims management. A professional claims manager will be assigned to your account working directly with you and L&I to minimize risk and lower claims cost.
PITB Retro Groups
PITB Transportation
Serves the following industries:
Transportation, recycle, warehousing, facility maintenance and services.
PITB Select
Serves the following industries:
Distillation, chemicals, food processing and related services.