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Self-Insurance a Local Engine for Economic Development
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We’ve all heard that old adage “If it’s not broken, don’t fix it.” That saying can apply today to the self-insurance industry. Self-insurance isn’t broken, but it is always in jeopardy of falling into despair unless the self-insurance industry and insurance regulators continue to work together to preserve and protect what we have.
Self-insured entities can feel good about the overall national success and strength of the self-insurance industry in light of the economic downturn. Self-insurance remains a very popular and positive mechanism to protect businesses and public entities around the country against the risk of loss. It provides a mechanism to increase business profitability and a value-added resource for a safe workplace environment.
Given the current state of the economy, local communities around the country are searching for ways to spur economic development, a cornerstone of sustainable progress. Self-insurance provides an often overlooked opportunity to boost local economies.
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Source: The Self-Insurer
