Self Insurance in Workers’ Compensation
Employers can fulfill their obligations to provide for workers’ compensation coverage by purchasing insurance from a private insurance carrier, or from an insurance fund run by the state or by self-insuring. Eighteen states have state funds. Twelve of these compete with privace insurance carriers for business and are usually referred to as competitive state funds. The other states have exclusive state funds, and private insurance carriers are not permitted to sell workers compensation insurance in those states.
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