In this episode of the Self Insurance Podcast by CRMBC, host Kaya interviews Scott Gaffner, CRMBC's Chief Underwriting Officer, about the intricacies of workers' compensation self-insurance in California. With over 30 years of experience, Scott examines the advantages of self-insured groups, the importance of underwriting, and the common misconceptions about self-insurance.
He explains how self-insured groups offer lower costs and superior risk management compared to traditional insurance markets. Scott also sheds light on how self-insured groups are resilient to market fluctuations and provides insights into aligning members within these groups for maximum benefit. Join us for a comprehensive discussion on why self-insurance can be a strategic choice for large entities.
00:00 Introduction to the Self-Insurance Podcast
00:22 Meet Scott Gaffner, Chief Underwriting Officer
00:37 Scott's Journey into Self-Insurance
02:54 The Importance of Underwriting in Self-Insurance
04:53 Addressing the Risks and Benefits of Self-Insurance
09:15 Understanding Experience Modification (XMOD)
14:32 Flexibility in Underwriting for Self-Insured Groups
17:06 Navigating Market Conditions in Self-Insurance
18:17 Conclusion and Final Thoughts
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