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School districts seek parity in proof-of-financial-ability exemption for self-insured workers’ comp
Summary
Testimony in support of Senate Bill 904 would allow self-insured school districts to apply for exemption from the Department of Consumer and Business Services rule requiring standby letters of credit or bonds by permitting proof of reserves, actuarial reports, and other evidence similar to cities and counties.
Senate Bill 904 would add school districts to the list of self-insured employers eligible to apply for an exemption from the Department of Consumer and Business Services rule that requires self-insured employers to establish proof of financial ability (typically a standby letter of credit or bond) for workers’ compensation programs.
Joe Krelier, Director of Risk Management for Portland Public Schools, testified that the bill inserts “school district” into ORS…
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