Advantages and Disadvantages of Self-Insuring for Workers’ Compensation
For companies with the available resources, choosing to self-insure their workers’ compensation plan may make sense over going through a third-party insurance company. However, it’s important to consider the pros and cons before making that decision. Advantages of Being Self Insured for Workers Comp There are many reasons, for companies who qualify, to self insure for workers comp, provided they are operating in a state that allows them to do so. Some of the primary reasons include: Reduced premium expenses….