The tribal owner of Mainstay Business Solutions has settled its lawsuit against state regulators, agreeing to certify as a self-insurer and post a $20 million bond.
Mainstay CEO Mark Hansen said during an interview Monday that his company's owner, the Blue Lake Rancheria tribe, decided that fighting the Department of Industrial Relations and Department of Insurance in court was more of an idealogical battle than a legitimate business pursuit. He said his company can self-insure and hold costs far below the premium costs that it would be charged by private insurers by posting a bond and gettin...
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