The Department of Industrial Relations on Monday announced that it has approved a 2012-2013 Alternative Security Program that will provide guarantees of $6.17 billion to cover security deposits for approved self-insured employers.The Alternative Security Program (ASP), created in 2003 and operated by the California Self-Insurers’ Security Fund, allows private self-insured employers to hold onto money they would otherwise not be able to access, the department said in a statement issued Monday. Self-insured employers are typically required to post a security deposit equal to 135% of estima...
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