W. Va. WCC Receives Record Premiums

August 6, 2004

The West Virginia Workers’ Compensation Commission on Monday received more than $52 million in premiums, a new single-day record that exceeds the previous mark by nearly a half-million dollars.

Deposits by check or credit cards totaled $52,161,227.17 for the Workers’ Compensation Fund, the Employers’ Excess Liability Fund and the Coal Workers’ Pneumoconiosis Fund. The Commission administers all three funds.

“Employers are becoming more and more conscientious about getting their payments to us in a timely manner, and I think that’s reflected in today’s record deposit,” said Executive Director Gregory Burton. “We appreciate their renewed commitment to a healthy workers’ compensation system for West Virginia. We will continue to work closely with the state Treasurer’s Office to properly administer these funds.”

The funds collected on Monday reflect premiums due for the fourth quarter of fiscal 2004, which ended June 30.

The previous single-day record was recorded on May 3 -$51,687,102.62 or $474,125.09 less than Monday’s total.

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