West Bend Mutual Insurance Co v. Procaccio Painting & Drywall C

SYKES, Circuit Judge.

This case requires us to explore the arcana of workers’ compensation insurance — more specifically, the complex formula used to calculate an employer’s annual premium for this coverage.

For many years Procaccio Painting & Drywall Company, Inc., a large Illinois construction contractor, purchased its workers’ compensation insurance from West Bend Mutual Insurance Company, a Wisconsin-based insurer. Because Procae-cio paid above-average wages, it was entitled to a special premium credit under the Illinois Contracting Classification Premium Adjustment Program. The parties…