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Definition of Certified Self Insurer

Certified self-insurer is a private employer who has a certificate of authority to self-insure in regard to the payment of workers' compensation benefits when an employee sustains a work-related injury or illness. Because of rising workers' compensation insurance premiums, becoming self-insured has become an increasingly popular way for an employer to handle workers' compensation coverage for their employees. It is important for an employee of a certified self-insurer to understand that their employer has to provide the same amount, type and duration of workers' compensation benefits that an employer who has workers' compensation coverage through an insurance company does.

However, the process for becoming self-insured varies from state to state and can be difficult and full of pitfalls. There are also requirements that have to be met in order to become a certified self-insurer. For example, in most states an employer who wants to be a certified self-insurer has to have demonstrated that they have the financial strength to ensure timely payments of all current and future workers' compensation claims made by their employees. In some states, an employer who wants to be a certified self-insurer can do so by becoming a member of a self-insured group.

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