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MWCC Self Insurance Frequently Asked Questions

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Contents:

What are the responsibilities of the Self Insurance Department?
Who is the Self Insurance Staff?
What are the Self Insurance Requirements?
How do I obtain information regarding the Assigned Risk Pool in Mississippi?
How do I obtain a list of the self insured companies and groups?
Does Mississippi have a self insured guaranty association?
What is the assessment rate for self insured companies in Mississippi?

What are the responsibilities of the Self Insurance Department?

The department is responsible for regulating both individual and group self insurers for the Mississippi Workers' Compensation Commission. The Commission approves rates, establishes solvency requirements, audits groups, and approves both individual and group self insurers in Mississippi. Additionally we monitor all self insurers, both group and individual companies, to ensure compliance on of Commission requirements. Today there are approximately 120 individual companies and 13 groups operating with Certificates of Authority issued from the Commission.

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Who is the Self Insurance Staff?

Preston Williams, Self Insurance Director     601-987-4207

Julia Kraft, Project Analyst       601-987-4204


Mississippi Workers' Compensation Commission
P. O. Box 5300
Jackson, MS   39296-5300

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What are the requirements for individual self insurance?

An individual entity must fill out the required application (on our website, Commission Forms) and return it to this department. All applicants will be required to submit a statement of financial condition audited by an independent certified public accountant. A hearing will be held to determine if an applicant will be approved. During that hearing the applicant will address such issues as their financial position, business plan, safety programs, claim handling and other appropriate issues as warranted. Once approved, it is the self insurance entities responsibility to fulfill all requirements of the Commission. Among these are the annual submission of audited financials, proper security, excess insurance, safety reports, as well as any other Commission directed material. Every three years all individual entities (except exempt state agencies) are required to furnish an actuarial report from a qualified actuary revealing their appropriate reserves, including incurred but not reported (IBNR).

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How do I obtain information regarding the Assigned Risk Pool in Mississippi?

Applications for insurance coverage should be directed to the National Council on Compensation Insurance (NCCI). Their toll free number is 800-NCCI-123 ext. 1174, and their website is www.ncci.com

For questions regarding the administration, regulations and general inquires of the pool, please call the pool administrator directly. The administrator is Mississippi Compensation Insurance Services and their telephone number is 601-977-9456. Their website is www.msplan.com

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How do I obtain a list of the self insured companies and group self insurers?

Please send a written request and a $25 check to Julia Kraft or Preston Williams at the address above.

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Does Mississippi have a Self Insured Guaranty Association?

Yes, there are actually two guaranty associations. One for the groups and a separate one for the individual companies.

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What is the assessment rate for self insured companies in Mississippi?

The assessment rate for 2011 is 1.55. This year, for the first time since 2005, there was an additional assessement of the individual self insured companies of Mississippi. The rate for this assessment was 2% and goes into the Individual Guaranty Fund. The fund only requires an assessment when its balance falls below $1 million, which was the situation this year.

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