A company with sufficient revenue may decide to forego both the state-based insurance fund and private workers' compensation insurance in favor on this arrangement:

Question

Quizplus · Accepted Answer

Becoming a self-insurer allows the company to assume the risk of providing workers' compensation benefits to their own employees. This can be more cost-effective for the company, especially if they have a low frequency of claims. However, it also requires a significant amount of financial resources to cover potential claims and may not be feasible for all companies. Refusing to enter the workers' compensation program or requesting employees to sign waivers are not legal options, and taking advantage of special legislation is not a common or reliable option.

A Company with Sufficient Revenue May Decide to Forego Both