IAIABC White Paper Suggests Best Practices for Self-Insured Groups

An engaged board of directors, adequate security deposits, standardized reporting requirements and actuarial reviews are among the tools that states can employ to avoid insolvencies of self-insured groups, the International Association of Industrial Accident Boards and Commissions said in a report released on Thursday.The IAIABC "white paper" chronicles the failure of 39 self-insured groups (SIGs) in New York, Illinois and Kentucky and provides lessons learned by regulators in those states to avoid future insolvencies."Each of these states has struggled with huge collection problems for SIG de...