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State self-insurance needs funds of 2 to 5 million
An attorney told an interim study committee that successful state self-insurance programs require a fund of 2 million to 5 million. He noted 25 states have self-insurance with funding from 250 000 to 4.5 million and some relied on legislatures for extra money after large losses. He cited Montana and Arizona studies and warned that funds must cover losses to avoid disaster as in Michigan.
MENTIONED IN THIS ARTICLE
Council
Sterim Committee
Montana
Arizona
Michigan
James Stoicheff
D-Sandpoint
Idaho
Stoichert
Bank of Statistics
Insurance Industry
Insurance Department