Clay Jackson answers the question – Who Owns A Self Insurance Group?
Marijuana workers’ comp and in in the workplace
Self-Insured Groups (SIGs) are a very good way to cover one’s workers’ compensation liabilities for someone who understands the principles of risk finance and pooling. Pooling has nothing to do with swimming (hopefully), but has to do with collectively sharing risk and funding it as a team, not individually, as many companies do under stand-alone self-insurance.
Why is it a good thing to be a Member of a SIG? How does this work? Clay Jackson explains.
What’s Joint and Several liability and how does it work in a SIG? In this blog, Clay Jackson explains the whole thing.
In delving deeper into why SIGs and self-insurance can be good for an employer, it’s important to note that this method of obtaining and providing workers’ compensation coverage to one’s employees is not for smaller companies or the faint of heart.
In discussing the world of Workers’ Compensation in California, we see it is a very big place, filled with all kinds of ways to insure (or self-insure) employees’ work related injuries. Included in this plethora of options is a very useful tool to have in your arsenal; that of the Self-Insured Group or “SIG.”