Governor Signs Bill Creating Self-Insurers' Guaranty Association

Tennessee Gov. Bill Lee signed a bill creating a guaranty association to step in and pay workers’ compensation benefits because of the insolvency of a self-insured employer. The governor signed the Tennessee Self-Insurers’ Guaranty Association Act in HB 2306/SB 2909 on April 9. The measure creates the nonprofit guaranty fund and requires that all individually self-insured employers remain members as a condition of their authority to self-insure. The guaranty fund will be managed by a five-person board of directors and will be authorized to establish minimum security deposits and...