West Virginia Offices of the Insurance Commissioner

The Council reviewed and discussed the FY2025 Annual Financial Statements presented by the Chief Financial Officer. Additionally, the Council held an executive session to discuss confidential matters related to self-insured employers, followed by a formal approval of those self-insured company matters during the reconvened public session.

The Council discussed workers' compensation coverage requirements for volunteer fire departments and reviewed financial statements for the fiscal year ending June 30, 2024, noting that while the coal workers' pneumoconiosis fund experienced increased claims and reserves, other funds remain actuarially sound. Additionally, the Council received a report on an upcoming NCCI filing which indicates an aggregate 13.5% decrease in rates, marking the twenty-first consecutive year of rate reductions.

The meeting included a legislative update on workers' compensation, specifically House Bill 2797, which expands the list of health care professionals who can diagnose PTSD for first responders, and Senate Bill 856, which repeals or modifies certain reporting requirements of the Insurance Commissioner. The council also held an executive session to discuss confidential matters related to self-insured employers and approved self-insured renewals and a related resolution.

The meeting included discussion to elect a new Chairperson, discussion of 2025 meeting dates, FY 2024 Financial Statements, the WV OIC Communication with Those Charged with Governance, and Coal Workers' Fund Update. The Industrial Council went into Executive Session to discuss self-insured matters and approve the list of self-insured renewals and adopt the Resolution that has been presented to the Council.

The meeting included a synopsis and discussion of the 2024 Workers' Compensation Safety Initiatives Survey. The council then moved to an executive session to discuss confidential matters related to self-insured employers, followed by a motion to approve a list of self-insured renewals, adopt a resolution, and grant self-insured status to a new applicant.