Safety National, announced today the release of a report detailing best practices for Self-Insured Groups (SIGs). The company is the overall leading provider of excess workers’ compensation coverage in the U.S., including for SIGs. The report provides advice based on years of experience working with successful and stable groups.
“Self-Insured Groups have been a proven vehicle for workers’ compensation for more than three decades when created and maintained correctly,” said Gary Cooper, association manager for Safety National. “As the leader in providing workers’ compensation services to self-insured groups, we have seen a lot of groups succeed and some fail. We believe that puts us in a unique position to provide some insight into what does and does not work in terms of forming and running financially solid groups.”
The report outlines five major areas where groups can implement best practices to help ensure success, including maintaining a plan of operation, working with service providers, building relationships with regulators, marketing a group and maintaining financial solvency.