Converting from Insurance to Self-Insurance

As the conditions in the workers compensation market change, the financial benefit of being self-insured also changes. Managed Benefit Systems, Inc., has several self-insured clients who left self-insured during the strong insured market during the late l990s and are not reconsidering that position as the insurance market has weakened. Our experienced consultants can assist risk managers and chief financial officers in making a sound decision on whether a self-insured status is preferable to insurance. Our consultants can also assist the client in creating a self-insurance program by helping with statutory filing requirements, purchasing excess insurance, identifying a quality Third Party Claims Administrator, and utilizing a reporting mechanism that achieves the management objectives of the business of the client.