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...
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