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Has the Time Come for Direct Workers Compensation in Captives?

Michael Maglaras-SF
August 06, 2018

A new Captive Thought Leader Video featuring Michael Maglaras, principal, Michael Maglaras & Company, titled "Direct Workers Compensation in Captives: Its Time Has Come," has recently been added to the video library.  

Mr. Maglaras proposes that the time has come to insure direct statutory workers compensation in captives on a nonfronted basis. In 49 US states, an organization can become a qualified self-insurer, and in 36 of these states, an organization can become a group self-insurer of workers compensation. When comparing becoming a qualified self-insured with writing workers compensation in a captive, the process starts to lend itself to captive treatment. This means the program is underwritten, funded, and managed directly through a captive insurer where the policy is issued directly on the captive's paper. Workers compensation in captives insurance is usually done as a deductible reimbursement program or as a fronted program with stacking letters of credit over multiple years. Mr. Maglaras asks us to imagine short-term and long-term disability programs as well as direct statutory workers compensation put together in one captive insurance program.

There is no cost to view the videos, and you will find them in the Captive Thought Leader Videos section of More videos will be added in the future.

(Mr. Maglaras is pictured above.)

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