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The Official Web Site of the State of South Carolina

Self-Insurance FAQs

Can an employer self-insure for workers’ compensation? 

Yes. Hundreds of employers in South Carolina are self-insured. In order to self-insure, an employer must apply, meet certain financial and other requirements, and be approved by the South Carolina Workers' Compensation Commission. An employer may self-insure as an individual organization, or as part of a group self-insurance pool or fund. Self-insured employers and funds are regulated by the Commission. They are required to maintain reinsurance and a surety bond or letter of credit in an amount specified by the Commission. Our Self-Insurance Division has more information.

Is there a published list of self-insured employers in the state? 

No. SC Regulation 67-1515 prohibits the Commission from releasing any information concerning a self-insured or self-insurance fund other than confirmation that an employer is individually self-insured or is a member of a specific self-insurance fund, the effective date, and the name of the claims administrator.

Are all self-insured employers required to have specific excess insurance? 

Yes. All self-insurers whether they are individual or funds must obtain a specific excess insurance policy in an amount determined by the Commission.

How often is an audit of a self-insured employer conducted? 

There is no specific timetable for when an audit is conducted but they could expect to be audited every two to three years.

Is there a minimum time an employer has to be in business before applying to self-insure? 

In order to self-insure, the employer must provide three years of financials as well as three years of loss runs.