Overview
What is Workers' Compensation Reinsurance Association?
The Workers' Compensation Reinsurance Association (WCRA) is a nonprofit organization headquartered in St. Paul, Minnesota. With a team of 33 dedicated professionals, the WCRA focuses on providing long-term reinsurance protection for serious workers' compensation claims in Minnesota. Their commitment to excellence is demonstrated through stable and reasonable rates, expert claims administration, financial stability, and informational services. In the year 2022, the WCRA processed 2,941 claim requests and paid $71,389,219 in claims. Additionally, their reserves for losses and loss expenses decreased by $31,433,546, and overhead expenses allocated to loss expenses totaled $2,035,512.
Official website here: www.wcra.biz
Is Workers' Compensation Reinsurance Association legitimate?
Workers' Compensation Reinsurance Association is a legitimate nonprofit organization registered as a 501(c)(27) entity. Workers' Compensation Reinsurance Association submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are not tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $2,060,057
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,595,552
For more financial information, click here
Official website here: www.wcra.biz
What is the mission statement of Workers' Compensation Reinsurance Association?
The Workers' Compensation Reinsurance Association (WCRA) is dedicated to providing long-term reinsurance protection for serious workers' compensation claims. Their team of innovative professionals strives for excellence by ensuring stable and reasonable rates, expert claims administration, financial stability, and informational services. In the year 2022, the WCRA reimbursed 2,941 claim requests, paying out a total of $71,389,219 for these claims. The reserves for losses and loss expenses decreased significantly by $31,433,546. Overhead expenses allocated to loss expenses amounted to $2,035,512.
Official website here: www.wcra.biz
Who is the CEO of Workers' Compensation Reinsurance Association?
James Heer is the President & Ceo of Workers' Compensation Reinsurance Association. The CEO's salary of Workers' Compensation Reinsurance Association is $335,621 and their total compensation is $440,780.
Official website here: www.wcra.biz
What is the revenue of Workers' Compensation Reinsurance Association?
Workers' Compensation Reinsurance Association's revenue in 2022 was $321,335,040.
Official website here: www.wcra.biz
Who are the executives of Workers' Compensation Reinsurance Association and what are their salaries?
The average compensation at Workers' Compensation Reinsurance Association during 2022 was $110,776. There are 33 employees at Workers' Compensation Reinsurance Association.
Here are 24 key members and their salaries (Workers' Compensation Reinsurance Association's CEO's salary is $335,621 and their total compensation is $440,780):
- James Heer (President & Ceo)
- Cynthia Smith (Vp Of Operations/Corp Secretry)
- Tony Tio (Actuary)
- Dave Mckee (Vp & Cfo/Treasurer)
- Natalie Haefner (Vp Of Claims And Injury Mgmt)
- Lynn Carroll (Vp & Actuary (Until 10/10))
- Alison Khan (Vp & Actuary (As Of 05/25))
- Daniel Lovhaug (Vp It & Security Officer)
- Peter Foley (Membership Audit Supervisor)
- Samuel Nolley (Director)
- James Oukrop (Director)
- Kenneth Peterson (Director)
- Sheila Brown (Director)
- Daniel Greensweig (Director)
- William Mccarthy (Director)
- Allison Waggoner (Director)
- Edward Reynoso (Director)
- Richard Long (Director)
- Cindy Farrell (Director (Until 07/22))
- Terrence Miller (Director)
- Paul Moore (Director (As Of 05/2022))
- Mansco Perry (Director (Until 09/2022))
- Jill Schurtz (Director (As Of 10/2022))
- Michele Spencer (Director (Until 01/22))
Official website here: www.wcra.biz
Where can I find the form 990 for Workers' Compensation Reinsurance Association?
The Workers' Compensation Reinsurance Association’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.wcra.biz
Learn more at the official website: www.wcra.biz
Mission Statement of Workers' Compensation Reinsurance Association
The Workers' Compensation Reinsurance Association (WCRA) is a dedicated organization with a mission to ensure the availability of long-term reinsurance protection for serious workers' compensation claims in Minnesota. With a team of innovative professionals, the WCRA strives for excellence through stable and reasonable rates, expert claims administration, financial stability, and informational services.
In 2022, the WCRA processed and reimbursed 2,941 claim requests, totaling $71,389,219 in payments. Significant progress was made in managing losses and expenses, with a decrease of $31,433,546 in reserves for losses and loss expenses. Additionally, overhead expenses allocated to loss expenses amounted to $2,035,512. The WCRA's commitment to financial stability and effective claims administration allows it to provide essential reinsurance protection for those with serious workers' compensation claims.
Impact
This information is meant to be a general summary of Workers' Compensation Reinsurance Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Workers' Compensation Reinsurance Association plays a crucial role in ensuring the availability of long-term reinsurance protection for serious Minnesota workers' compensation claims. In 2022, the WCRA reimbursed 2,941 claim requests and paid $71,389,219 for these claims, demonstrating its significant impact on supporting workers and businesses in Minnesota. The decrease in reserves for losses and loss expenses by $31,433,546 reflects the organization's commitment to financial stability and sound claims management. By providing stable and reasonable rates, expert claims administration, and informational services, the WCRA contributes to the overall well-being and security of the workers' compensation system in the state.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FUNDED REINSURANCE PREMIUMS
Revenue
$56,508,605
ALL OTHER PROGRAM SERVICE REVENUE
Revenue
$8,100
Organization Details
Founding Year
1979
Phone
(651) 293-0999
Principal Officer
James Heer
Main Address
400 ROBERT STREET NORTH Suite 1700, ST PAUL, MN, 551012026
Website
www.wcra.biz
NTEE Category
Code: Y20 - Mutual benefit
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