What Does Self Insurers Bond Mean?

Free Business Insurance Quote Click Here
What does Self Insurers Bond mean? Read on to discover the definition & meaning of the term Self Insurers Bond - to help you better understand the language used in insurance policies.

Self Insurers Bond

Self Insurers Bond

A type of surety bond that provides a promise to pay self-insured losses in case the promisor (self-insurer) is unable to meet its obligations. For example, in order to self-insure workers compensation risk, most states require that the self-insurer post a self-insurer's bond with the state. The state then recognizes that the self-insurer will have adequate resources to pay workers compensation claims.

We hope the you have a better understanding of the meaning of Self Insurers Bond.

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z