In this episode of the Self-Insurance Podcast, hosted by CRMBC, we tackle the intricacies of workers' comp self-insurance with Mike McDonough, the broker principal of McDonough Insurance Services. Drawing from his 30 years of experience, Mike offers a deep dive into the advantages of self-insurance over traditional insurance carriers. Key topics include the concept of a hardening market, criteria for joining a self-insured group, the importance of managing claims, and how self-insurance provides more control and financial benefits for employers. Get valuable tips on how restaurant owners can protect themselves in a hardening market and much more. Don't miss Mike's expert insights and practical advice!00:00 Introduction to Self-Insurance Podcast00:33 Meet Mike McDonough, Industry Expert03:04 Understanding the Hardening Market05:31 Differences Between Self-Insurance and Traditional Carriers08:44 Criteria for Joining a Self-Insured Group12:44 Benefits of Self-Insurance for Restaurant Owners14:16 Closing Advice for Navigating a Hardening Market17:15 Final Thoughts and FarewellPlease 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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