BIAW Takes 2 Legal Hits on its Retro Program

A Superior Court judge has ruled the Building Industry Association of Washington violated its fiduciary duties in the management of its retrospective rating program by improperly keeping more than $400,000 in earned interest. Thurston County Superior Court Judge Carol Murphy ruled Thursday that BIAW and its affiliates mishandled millions of dollars in member trusts received as part of a Department of Labor and Industries workers' compensation refund program for members that maintained better-than-expected safety records.The BIAW failed to provide an annual accounting to businesses in the p...