Georgia Self-Insurers Guaranty Trust Fund

Self-insured companies experience:
(1) An improved control of workers’ compensation claims;
(2) A reduction in overall costs of workers’ compensation claims;
(3) An improvement in the relationship with injured employees;
(4) More enthusiastic support of safety efforts;
(5) An improved cash flow.

Companies seeking self-insurance in Georgia should send two (2) complete, original applications for self-insurance to the State Board of Workers’ Compensation, along with three (3) separate years of audited financial statements, and an application fee of $500. After the application is reviewed by the SBWC, one (1) original version of the application, the financial statements, and the application fee are sent to the Georgia Self-Insurers Guaranty Trust Fund.

If the application is complete, the Trustees of the GSIGTF review the application/financial statements and make a recommendation to the SBWC regarding the acceptance of the applicant for self-insurance. The SBWC has final authority regarding the acceptance of any applicant and will issue an Order accepting or rejecting the applicant. The SBWC’s Order will state the provisions under which the applicant has been accepted, including the amount of security to be filed with the Georgia Self-Insurers Guaranty Trust Fund, the requirements for specific excess workers’ compensation insurance, and payment of the initial assessment fee of $8,000.

Please refer to the “NEW APPLICANTS” or “RESOURCES/FORMS” sections for a copy of the application form.

The time frame for review of an application for self-insurance varies based on the accurate completion of the application itself; however, we estimate 3-6 months.

There is a $500 application fee, and, if approved, there is an initial assessment fee of $8,000. Both fees can be paid via ACH or by writing a check payable to the Georgia Self-Insurers Guaranty Trust Fund.

Actively self-insured members of the Georgia Self-Insurers Guaranty Trust Fund are required to:
(1) Complete the annual Member Information Update Form (typically due March 31st each year);
(2) Submit audited financial statements and specific excess policies every year;
(3) Maintain security in the form of a letter of credit or surety bond;
(4) Pay annual assessment fees ($2,000-$8,000).

Active members may also be required to pay penalty fees ($50/day) or submit to a claims audit of open/closed self-insured workers’ compensation claims.

Primary contact information can be updated through the login portal, on the annual Member Information Update Form, or by sending a formal letter on your company’s official letterhead to gafund@deflaw.com. The formal letter should include the new primary contact’s name, title, address, e-mail address, phone number, and fax number. Please note, it is the member’s responsibility to notify the GSIGTF and State Board of Workers’ Compensation of any contact changes.

To request the addition of a subsidiary or affiliate, please submit a request in writing on your company’s letterhead, along with the Request to Add Company form, which can be downloaded on the “CURRENT MEMBERS” and “RESOURCES/FORMS” sections.

The Request to Add Company form should include the name of the company you want to add, the effective date you want to add this company to your self-insurance program, the relationship between the company you want to add and the self-insured member company, as well as loss history, including three (3) years of medical/indemnity paid data.

If you are requesting the addition of a newly created company with no loss history, please note that in your formal letter and answer the questions on the Request to Add Company form with N/A.  Please note that the GSIGTF and State Board of Workers’ Compensation do not grant retroactive approval of subsidiaries/affiliates so your request must include a future effective date.

The formal letter and Request to Add Company form should be e-mailed to gafund@deflaw.com.

If your company goes through a name change, please send a formal letter to gafund@deflaw.com, notifying our office of the name change and the effective date of the name change. Upon receipt of this formal letter, our office will contact you with regard to changing the member company’s name on security and excess.

The Member Information Update Form can be accessed using the “LOGIN” button in the upper right corner of the screen, and is required of all members every year.  The annual MIUF requests information related to your workers’ compensation self-insurance, such as current member company and TPA contact information, employee data such as payroll and number of employees, and claims data for the previous year. For example, the 2024 MIUF will ask for the total medical paid in Georgia in 2023.

The annual MIUF is due March 31st each year and a member can be penalized $50/day for late submission.

The purpose of the Member Information Update Form is to maintain current contact information, calculate the annual assessment fee, and to collect loss data to accurately determine your company’s security requirement. A copy of the MIUF is forwarded to the State Board of Workers’ Compensation each year.

Yes, your request for an extension to submit the annual Member Information Update Form should be sent to gafund@deflaw.com. Once we’ve processed your extension request, you will receive an e-mail confirming your new, extended deadline. Please ensure you submit your MIUF by the extended deadline to avoid penalty fees of $50/day. 

Requests for extensions must be made in writing prior to March 24th, and no extensions will be granted if requested after March 24. 

The Member Information Update Form is required so we can collect information on any remaining open claims that occurred during your self-insurance period. The data reported on the MIUF is used to calculate the annual assessment fee as well as your company’s security requirement.

As a canceled member, you are required to submit the MIUF until you’ve reported three (3) consecutive years of zero (0) open claims and $0 payments/reserves, or until you have satisfied the requirements of, requested, and been granted an elimination of security. Please see the “SECURITY” section for the procedures to request an elimination of security.

You should login to this website to complete and submit the Member Information Update Form as soon as possible. The penalty for the late submission of the MIUF is $50 per day, and the penalty fee will continue to accrue until the MIUF has been submitted via our website and the Certifications have been signed by all required parties via DocuSign.

Once you have submitted the Member Information Update Form via our website and the Certifications have been signed via DocuSign by all required parties, we will review the MIUF. The review process takes several months and your MIUF could be reviewed any time throughout the year.

After we have reviewed your Member Information Update Form submission, you will receive an email approving or rejecting the MIUF. If your MIUF is rejected, please login to our website and make the requested corrections to the Form directly.

You must submit the corrections to the MIUF before the deadline outlined in your rejection email. If the MIUF is resubmitted after the deadline, your company will be penalized $50/day.

Once you have resubmitted the MIUF with the requested corrections, we will review the submission again, and send an email approving the MIUF, or rejecting it for further corrections.  Your MIUF can be rejected multiple times, if the requested corrections aren’t completed, and you can accrue penalty fees on each deadline.  Please be sure to contact us at gafund@deflaw.com if you have questions about the corrections we requested.

Annual assessment fees are calculated at 1.5% of medical and indemnity paid for the previous year, as reported on the Member Information Update Form. The minimum assessment fee is $2,000 and the maximum assessment fee is $8,000.

As long as the Member Information Update Form is required, the assessment fee is required. As a canceled member, you will continue to be assessed until you have reported three (3) consecutive years of zero (0) open claims and $0 payments/reserves, or until you have satisfied the requirements of, requested, and been granted an elimination of security. Please see the “SECURITY” section for the procedures to request an elimination of security.

Penalty fees can be accrued for several different reasons:
(1) Late submission of the annual Member Information Update Form;
(2) Late submission of corrections to the annual MIUF;
(3) Late payment of the annual assessment fee;
(4) Late payment of any penalty fee.

Penalty fees are $50 for each day past your deadline, and you can accrue multiple penalty fees every year. To avoid penalty fees, please ensure your MIUF/corrections are submitted by the deadline(s) and all fees are paid timely.

Yes, you can submit a request for a penalty waiver by writing a formal letter on your company’s letterhead, explaining the circumstances surrounding your late submission and why the penalty fee should be waived.  The formal letter requesting the penalty waiver should be e-mailed to gafund@deflaw.com.

The Administrator will review your penalty waiver request, along with your company’s history of compliance, to determine if the current penalty fee can be waived. If your penalty fee is not waived, you will be given a new 20-day deadline to pay the penalty fee so please do not send payment until you have heard back from us regarding the penalty waiver request. 

All active and canceled members are required to have security on file with the Georgia Self-Insurers Guaranty Trust Fund in the form of a surety bond or letter of credit. The amount of security required is established via a State Board of Workers’ Compensation Order.

Please see the “SECURITY” section for the required letter of credit and surety bond language and instructions. NO DEVIATIONS FROM THE APPROVED LANGUAGE WILL BE ACCEPTED.

Please e-mail a copy of any security documents to gafund@deflaw.com so we can review your letter of credit, amendment, surety bond, and/or rider before the original document is issued and mailed to our office. Many members submit incorrect original security documents, so it is imperative you forward a draft copy of any security documents to us before the originals are issued.

The amount of security required by a self-insured member is based on the greater of two figures: (1) outstanding reserves or (2) twice the average of the member’s cumulative medical and indemnity benefits paid during the most recent three (3) year calendar period.

However, the Board of Trustees can deviate from this procedure at their discretion, if an employer poses a heightened risk to the Fund. Please see the “SECURITY” section for further information on the calculation of security requirements.

Yes, for active members, the minimum security requirement is $250,000. For canceled members, the minimum security requirement is $10,000.

Please see the “CURRENT MEMBERS” section for information regarding excess insurance and our requirements. Please see the “RESOURCES/FORMS” section for examples of the required bankruptcy/cancellation endorsements.

If you want to cancel your company’s self-insurance program, please submit a formal letter on your company’s letterhead stating the date you want to cancel self-insurance, along with a certificate of insurance as proof of your workers’ compensation coverage going forward. The formal letter and proof of insurance should be sent to gafund@deflaw.com. 

Although self-insurance is canceled, you are still responsible for claims that occurred during the self-insurance period. Therefore, the GSIGTF will maintain the security presently on file, and you must continue to submit the Member Information Update Form and pay assessment fees.

Canceled members, even though they are no longer self-insured, are required to:
(1) Complete the annual Member Information Update Form via our website;
(2) Provide audited financial statements annually, for at least five (5) years following the date of cancellation of self-insurance;
(3) Pay assessment fees based on the amount of medical and indemnity paid the previous year ($2,000 minimum and $8,000 maximum);
(4) Pay a penalty fee ($50/day) if a deadline is missed;
(5) Submit to a claims audit, if Ordered by the SBWC.

Please see the “SECURITY” section for procedures to request an elimination of security.

In order for a canceled member to be eligible to have their security returned, the following criteria must be met:
(1) Canceled for at least two (2) full years;
(2) All self-insured claims must be closed by the State Board of Workers’ Compensation for a period of two (2) years following the cancellation date;
(3) The canceled member cannot have made any payments during the last twelve (12) months, and must confirm that they have not received any unpaid medical invoice(s) over this same period;
(4) The canceled member must confirm that no indemnity has been paid in the last three (3) years, and confirm the amount of medical paid over the last three (3) years;
(5) The canceled member must also confirm that four (4) years have passed since the last indemnity payment related to GA Code Section 34-9-261 or 34-9-262 has been paid.

A claims audit is a way for the Georgia Self-Insurers Guaranty Trust Fund to ensure that all claims are being reported to the State Board of Workers’ Compensation, and to ensure that a member company has adequate security on file per the claims audit reserves. The claims audit is performed by a licensed independent auditor.

A claims audit could be Ordered by the SBWC if you requested a security reduction, filed for bankruptcy, or if the GSIGTF is concerned about your company’s financial status. If you are Ordered to undergo a claims audit, we will provide instructions for submitting supporting documentation to us and contacting the claims auditor.

Please contact us at gafund@deflaw.com immediately to clear up any reason why a SBWC hearing was requested. State Board of Workers’ Compensation hearings are requested for past-due submission and/or corrections to the Member Information Update Form, as well as for late submission of payments of assessments and/or penalties.