The BWC agreed to settle the class action lawsuit that stemmed from the BWC overcharging premium to thousands of Ohio employers from 2001 to 2009. According to the Columbus Dispatch, the settlement agreement was reached last night (7/24/14). A $420 million fund will be created to pay employers that were overcharged and were part of the class action lawsuit. Judge Richard McMonagle of the Cuyahoga County Common Pleas Court needs to approve the settlement and then the class members will be provided instructions for submitting claims. A third party administrator will be appointed to process the payments on behalf of the BWC in the ensuing months. If the claim calculations exceed $420 million, each member will receive a prorated share of the settlement fund ($420 million). The class members are finally in the home stretch of getting paid back after starting the lawsuit back in 2007.