Since the new entity has the same employees, can we transfer the security from the old self-insured entity to the new one? My broker does not have any problems with this.
The new entity will need to apply for its own self-insurance authority. There is an exception. If the current self-insured was merged into another self insured, then a new application would not be required. This information will need to be provided to the Division. The new self-insured entity will need to post its own security. Security may not be transferred to or combined with other related entities′ authorities.