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- Title
Characteristics of Self-Insurers for Workers' Compensation Losses: Evidence from Manufacturers in Pennsylvania.
- Authors
Mu-Sheng Chang
- Abstract
This paper investigates the characteristics of manufacturers that have self- insured for workers' compensation (WC) losses. Using data on Pennsylvania manufacturers with more than 1,000 employees, this research indicates that self-insurance is an important risk-financing technique for WC among these manufacturers. Self-insurers employ more than half the total workforce in the production of nonmetallic mineral, petroleum and coal, primary metal, and paper products. The results of this empirical analysis suggest that self-insurance is positively and significantly related to the size of firms, public ownership, and the self-insurance pattern in a manufacturing subsector. Publicly owned manufacturers are more likely to self-insure than their privately owned counterparts. Risk attitude toward self-insurance differs dramatically between publicly held and privately held manufacturers.
- Subjects
PENNSYLVANIA; WORKERS' compensation; SELF-insurance; INSURANCE companies; LABOR supply; MANUFACTURING industries; NONMETALLIC minerals industry; PETROLEUM industry
- Publication
Journal of Insurance Issues, 2013, Vol 36, Issue 2, p175
- ISSN
1531-6076
- Publication type
Article