If a Michigan employer wants to self-insure, what type of insurance must they obtain?

The choice of occupational accident insurance is essential for a Michigan employer who wishes to self-insure. Occupational accident insurance provides coverage for employees who suffer injuries while on the job, ensuring that they receive the necessary medical treatment and compensation for lost wages due to work-related accidents.

This type of insurance is crucial for self-insured employers as it allows them to manage their own risk for workplace injuries rather than relying on traditional workers' compensation insurance providers. By self-insuring with the appropriate occupational accident coverage, employers can maintain control over their claims process and potentially lower their overall insurance costs while still complying with legal requirements related to workplace safety and employee compensation.

Health insurance and disability insurance, while important for employee welfare, do not specifically address workplace injuries. Liability insurance is focused on protecting against claims of negligence and damages caused to third parties, which does not fulfill the specific requirement for covering employees in the event of job-related accidents. Thus, for self-insurance in the context of workplace injuries, occupational accident insurance is the most relevant and required type of insurance.