Value of Retro
Washington’s L&I Retrospective Rating program (Retro) offers employers relief from the high cost of workers’ comp insurance for reducing and controlling cost of claims. Benefits include lower premiums through a reduced experience modification rating (EMR) and the ability to earn lucrative refunds. Data shows Retro participants have lower EMRs and pay considerably less in time-loss.
How Retro Works
Retro groups are organized by industry and sponsored by an Association. SMART sponsors three groups who have produced outstanding results. Retro groups allow employers to share risk by developing workers’ compensation premium and losses together. The difference between the earned retro premium and loss is refunded back to the group and distributed to members.
Joining a Retro Group
Once approved to participate in a group you will be partnering with Approach Management Services (AMS), the third-party claims and retro administer hired by SMART to serve its members. A dedicated claims analyst will be assigned to provide professional claims management service working directly with L&I to adjudicate claims. AMS provides safety and risk management resources to assist members in controlling costs and to earn retro refunds.
Retro Groups
Dream Team
An invitation only group for large construction and related services employers.
Advantage
For companies in retail, wholesale, and professional service industries such as banks, law firms and related services.