Competitive state funds are state-owned and -operated facilities that compete with commercial...
monopolistic state funds
Monopolistic state funds are jurisdictions where an employer must obtain workers compensation insurance from a compulsory state fund or qualify as a self-insurer (as is allowed in two of the jurisdictions).
Additional Information
Such insurance is not subject to any of the procedures or programs of the National Council on Compensation Insurance (NCCI). Instead, each jurisdiction has its own rules and regulations that govern the placement and administration of workers compensation insurance. The following states/jurisdictions are monopolistic fund states: North Dakota, Ohio, Washington, Wyoming, Puerto Rico, and the US Virgin Islands.
Related Terms
State funds are state-owned and operated organizations that write workers compensation insurance.
