Workers' Comp Success Leaves Clues

Tony Robbins says, “If you want to be successful, find someone who has achieved the results you want and copy what they do and you'll achieve the same results.”

Exceptional brands and leaders in most industries choose to self-insure their workers’ compensation liabilities. Why do they do this? Because it makes the most sense.

The industry leaders featured in this article's image could do anything under the sun, yet they choose to self-insure. The decision to self-insure is not taken lightly or made on a whim. These successful companies all have large departments of financial and risk management professionals to examine and analyze every option before making a decision.

They are all highly successful, and after careful analysis, they have all arrived at the same conclusion that self-insurance makes the most sense.

Self-insurance has been a safe and successful choice for California businesses for more than 105 years. Judging by the companies that self-insure, highly successful industry leaders understand this and are benefiting from the safety and competitive advantage that self-insurance offers.

Maybe the question isn’t why they self-insure, maybe the question should be; Why don’t you self-insure?

ABOUT THE AUTHOR: Jon Wroten, MBA, CPP, is Senior Vice President at The PATH Alliance and Managing Director of California Risk Advisors LLC, where he provides strategic leadership to help California employers derive maximum benefit from being self-insured. In his prior role as the Chief of the Office of Self-Insurance Plans (OSIP) for the State of California, the nation's largest self-insurance marketplace, he was responsible for managing $22 billion in risk exposure, protecting 4.6 million California workers representing $192 billion in annual payroll. Jon taught business, insurance, and risk management as an adjunct professor at Sierra College for over fifteen years.