Today there is a whole new alternative solution called Group Workers’
Compensation Self-Insurance
Approved by the State of California, Self-Insurance is an alternative vehicle
that provides the medium size companies within the same standard industrial
codes (SIC) the same opportunity that large national companies have enjoyed
for years.
Business in your own industry with excellent loss experience and solid
financials are partnered as a group to provide its members cost effective
Workers’ Compensation coverage. A Group Administrator and a third party
claims administrator (TPA) are hired to manage both the group and the claims
process. Excess Insurance should be purchased to protect the group against
any major claims.
Group Self-Insurance is the most effective way to control your short and
long term Workers’ Compensation costs:
- Group programs must be approved, meet and operate under
stringent requirements of the State of California as administered
by the Department of Industrial Relations (DIR) www.DIR-SELF
INSURANCE WEBSITE
- Established as a “not-for-profit” mutual benefits corporation, the program
is owned and operated by its members and elected Board of Trustees
- The group is protected from catastrophic losses by financially
sound excess and re-insurance carriers
- The group is protected from catastrophic losses by financially
sound excess and re-insurance carriers
- There is No Capital Investment required
There is No Letter of Credit
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