Self-insured

INSOLVENCY – PART FOUR Upon default on the payment of benefits (not the filing of a petition in Bankruptcy Court), the U.S. Department of Labor (DOL) will seize the self-insurer’s security deposit....

Section 904(a) states, “Every employer shall be liable for and shall secure the payment to his employees of the compensation payable ….” Section 932(a) states, “Every employer shall secure the...