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Worker's Comp Group Self-Insurance: Getting Started
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| guidance towards becoming group
self-insured
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I'm interested in workers' compensation group
self-insurance. What are the next steps?
A program group administrator, hired by the group's
board of directors, will help interested employers evaluate this important
option. The major steps in becoming a self-insured group are:
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Select a program administrator.
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Conduct a feasibility study.
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Select a claims administrator.
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Select an insurance broker for Excess Workers' Comp
and D&O insurance coverage.
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Design a safety and loss control program.
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Prepare and present application for Group
Self-Insurance status to the California Department of Industrial Relations
(Self-Insurance Division).
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Provide the state of California security requirement (i.e., a bond or letter of
credit).
Information Required for
a Feasibility Study
AIMS respects the confidentiality of any information supplied in
evaluating the feasibility of any company's participation in a Workers'
Compensation Group Self-Insurance program. Any information provided will be
used for the sole purpose of completing the feasibility study. No
information will be shared with any competitor or other outside
firm. Your company will need to supply the following information:
- Workers' compensation loss runs (claims data) for the last 5 years,
valued within the last 90 days
- Payroll data, workers' compensation audits, and experience
modification worksheets for the last 5 years
- Workers' compensation premium history for the last 5 years
- Your company's general history, including a description of your
company's options, brochures, and other sales materials
- Audited financial data for the last 3 years
- Details of any workers' compensation claim larger than $25,000
- Information about your company's safety and loss control program
How can I get more detailed information about Workers' Comp Group Self-Insurance?
Contact:
Ralph Matthews
916.563.1900
Vice President, Workers' Compensation
10445 Old Placerville Road
Sacramento, CA 95827
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