In this episode of the Self Insurance Podcast, Kaya welcomes Mike McDonough, broker-owner of McDonough Insurance Services, to explore the major differences between traditional workers' compensation and self-insured groups. Mike, an industry expert with over 30 years of experience, explores how self-insurance encourages immediate injury reporting, reduces costs, and ensures better care for injured workers. They also discuss the importance of employee handbooks in mitigating workers' comp claims and overall business liability. 00:00 Introduction00:54 Traditional vs. Self-Insured Workers' Comp01:52 The Importance of Reporting Injuries02:19 Real-Life Example: Handling an Injury Claim03:29 Communication and Cost Management06:30 Legal Representation in Self-Insurance09:17 The Role of Employee Handbooks12:14 Conclusion and Final ThoughtsPlease visit CRMBC for our latest news.Follow us on LinkedIn for content highlights.See the latest videos on YouTube to see us in action. And connect with CEO Kaya Stanley on LinkedIn.

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