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Self-Insured Employer Certification
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To
become a certified self-insured for workers' compensation purposes in Oregon, an employer
must submit the following:
- An application
in a format prescribed by the director
- Proof of the
employer's claims processing ability
- Annual or audited
financial statements for the last three fiscal years, along with the "SEC
Form 10K" (a Securities and Exchange Commission form) if issued
- Evidence of an
occupational safety and health loss control program
- Most recent experience
rating modification worksheet
- Types and retention
levels of excess insurance
- Signed service
agreement, if applicable, between employer and service company
- Evidence that
a surety bond company will issue a surety bond
- Or evidence that
an irrevocable standby letter of credit can be issued by an approved banking
institution.
- Evidence of a
common claims fund (SI Groups)
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Security deposits are required
to guarantee continued payment of claim liabilities in the case of default. Adequacy
of security deposits is reviewed annually and may be required to be increased depending
upon claim liability, financial condition, and excess insurance coverage. |
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Insolvent
employers
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The Self-Insured Employer
Adjustment Reserve and the Self-Insured Employer Group Adjustment Reserve provide funds
to pay claims in the event the self-insured employer, or the self-insured employer
group, fails or is unable to make payments due under ORS Chapter 656.
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Self-insured
employer group
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| Five or more
employers may be approved to form a self-insured employer group in accordance with ORS
656.430. |
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Number
of self-insured employers
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There are currently
136 active self-insured employer plans in Oregon (as of December 2009), which include
approximately 295 employers. There are currently about 1400 employers who are members
of six certified self-insured employer groups.
Rule reference: OAR 436-050: Employer/Insurer Coverage Responsibility |
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For
more information contact:
Self-Insurance
Specialist: 503-947-7699
FAX: 503-947-7725 |
