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Self Insured Groups (SIGs) are regulated alternatives to traditional insurance that are approved by the State of California to provide workers' compensation benefits to member employers. A SIG is a California Not-for-Profit Mutual Benefit Corporation run by a Board of Directors.
A SIG is made up of the following "parts:"
- Industry-specific members who share a common Standard Industry Code (SIC)
- A Board of Directors
- An Administrator
- A Claims Administrator
- Safety and Loss Control services
- Accountants
- Excess Insurance coverage providers
Each SIG is reviewed, approved and monitored by California's Department of Industrial Relations Office of Self Insurance Plans. Just as each SIG is reviewed and approved, each member of a SIG is similarly reviewed to ensure that individual employers meet the requirements of membership. A SIS is a "shared-risk" pool, with joint and several liability among members.
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