As I will explain, the Taylor Fry Report, the Hawke Report and the Hanks Report each identify a need to significantly increase regulation of self-insurers
and to improve the performance of the scheme regulator, Comcare, and the oversight role of the Safety, Rehabilitation and Compensation Commission ('SRCC').
still have to provide collateral the conventional way, by buying an LOC or posting cash.
The vast majority of states require that employers that employ more than a stated number of people carry workers compensation insurance or become qualified self-insurers
The 2-percent assessment on each individual self-insurer
and on each group self-insurer
is to be collected until the sum of $2 million is accumulated by the individual association and the sum of $1 million is accumulated by the group association, at which time assessments will be suspended.
It was unable to qualify as a self-insurer
in more than one state, yet felt the captive offered greater cost reduction opportunities on an aggregate basis than a patchwork of self-insurance, retro programs, and guaranteed cost insurance.
57) Nor is a self-insurer
precluded from recovering on a subrogation basis the proceeds of guaranty fund payments.
There is no policy reason why Exum's uninsured motorist protection should decrease because he happened to be driving the car of a self-insurer
When a private self-insurer
is insolvent and defaults on the payment of its obligations, the chair is responsible for ensuring the claims continue to be paid," the statement reads.
The Workers' Compensation Commission will, upon the request of the Self-Insurer
Guaranty Association or of any other party or without any request on its own motion, enter an appropriate order finding a member self-insurer
to be in default and will determine the date of such default.
If you are a self-insurer
, make sure your excess carrier is solid.
This task force, which will have as its members, the Chair of the WCB, the Superintendent of Insurance, the commissioner of labor and twelve other members appointed by the Governor upon nomination by the leadership of the Senate, Assembly, the AFL-CIO, the Business Council, one who is an individual self-insurer
or representative, a trustee or administrator of a group self-insurer
or representative, someone from an organization that represents WC claimants, and three others without limitation.
The court observed self-insurance means the self-insurer
is not an insurer of anything other than its own ability to pay for damages for which it is legally responsible.