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54 self-funded insurance companies in Michigan

June 21, 2014 by Steven M. Gursten

Beware if you’re driving a company car from a self funded business

Some government entities, bus companies and large corporations will self-fund their auto insurance. They believe the entity or company is financially sound enough to pay for their own losses out of company assets — rather than through buying insurance from an  insurance company.

Self-insurance is a risk management method in which a calculated amount of money is set aside to compensate for the potential future loss, such as a car accident. But self-insured entities unwittingly cause a lot of problems for many of their employees if they have the misfortune to be seriously injured in an automobile accident.

This is because if you’re in a car crash while occupying a self-funded vehicle, there’s a good chance you will not have critically important insurance coverages.

The most important is that self-funded insurance companies do not carry uninsured and underinsured motorist coverage, which covers occupants who are injured due to a driver who does not have No Fault insurance or has an inadequate policy limits on their liability coverage. So if you’re driving as a passenger in a self-funded company car and the other driver does not have Michigan No Fault insurance (and in cities like Detroit, it is estimated that now 50% of drivers are driving uninsured), there’s a very good chance you won’t have additional insurance coverage to protect you.

Here’s our update of notable self insurers:

  1. Archdiocese of Detroit
  2. AT & T Ameritech-Michigan Bell
  3. Avis Budget Group, Inc., P.V. Holding Corp.
  4. Central Michigan University
  5. City of Ann Arbor
  6. City of Battle Creek
  7. City of Dearborn
  8. City of Detroit
  9. City of Flint
  10. City of Warren
  11. Consumers Energy Company
  12. County of Saginaw
  13. Detroit Edison Company
  14. Diocese of Gaylord
  15. Diocese of Grand Rapids
  16. Diocese of Kalamazoo
  17. Diocese of Lansing
  18. Diocese of Marquette
  19. Diocese of Saginaw
  20. EAN Holdings, LLC
  21. Eastern Michigan University
  22. Ferris State University
  23. Flint Mass Transportation Authority
  24. Ford Motor Company
  25. Genesee County
  26. Grand Valley University
  27. Hertz Vehicles, LLC
  28. Lake Superior State University
  29. Macomb County
  30. MASB SEG Property Casualty Pool, Inc.
  31. Metro Assoc for Improved School Leg Joint Risk, et al
  32. Michigan Community College Risk Management Authority
  33. Michigan Consolidated Gas Company
  34. Michigan County Road Commission Self-Insurance Pool
  35. Michigan Gas Utilities Corporation
  36. Michigan Municipal Liability and Property Pool
  37. Michigan Municipal Risk Management Authority
  38. Michigan State University
  39. Michigan Technological University
  40. Michigan Township Participating Plan
  41. Michigan Transit Pool
  42. Middle Cities Risk Management Trust
  43. Northern Michigan University
  44. Oakland University
  45. Regents of The University of Michigan
  46. Rental Car Finance Corporation
  47. Road Commission for Oakland County
  48. Saginaw Valley State University
  49. State of Michigan
  50. Suburban Mobility Authority for Regional Transportation
  51. Upper Peninsula Power Company
  52. Wayne State University
  53. Western Michigan University
  54. Wisconsin Electric Power Company

– Source, Michigan Department of Insurance and Financial Services

Note: Use this list for entities that qualify for a Certificate of Self-Insurance Authority (COSI) to operate as a Michigan automobile self-insured company pursuant to Public Act No. 204 of 2012. The list is updated every fiscal year. There may be entities qualified as self-insurers subsequent to the date of this legal blog.

And most important of all, if you work for one of these self-funded entities, look into whether you will be covered with uninsured and underinsured motorist coverage right away.

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