Monopolistic State Fund
States where workers compensation insurance must be purchased only from the state fund, not private carriers.
Ohio, North Dakota, Wyoming, and Washington are examples of monopolistic or near-monopolistic systems for most employers. Multi-state employers must buy separate policies or obtain out-of-state endorsements carefully.
Examples
An employer expands into a monopolistic state and must obtain coverage from that state's fund rather than the national carrier used elsewhere.
Common Misconceptions
Assuming a master policy covers all states automatically. Failing to register as employer in fund states.
Related Terms
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Back to Glossary Claims Pages AcademyThis definition is provided for informational and educational purposes. Insurance terminology may vary by jurisdiction, policy, and context. Consult a licensed professional for guidance specific to your situation.
