What the sources say
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All employers granted self-insuring status must demonstrate sufficient financial and administrative ability to ensure that all obligations under this section are promptly met.
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To qualify for self-insuring status, an employer must have operated in Ohio for at least two years, or have succeeded a business that operated for at least two years in the state.
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The administrator requires a surety bond from all self-insuring employers, issued under section 4123.351 of the Revised Code, sufficient to secure compensation and expenses, which must not be less than what the state insurance fund provides in similar cases.
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The administrator may charge a reasonable application fee to employers applying for self-insuring employer status to cover the bureau's processing and determination costs.
General information from the public sources we cite, not legal or insurance advice. Rules change and depend on your facts: confirm with the agency named in each source.