GLOSSARY TERM
Competitive state fund
A state-created workers' compensation insurer that operates in a market where employers may also have private-carrier options.
A competitive state fund writes workers' compensation insurance alongside private carriers rather than serving as the only permitted insurer. Some competitive funds also have market-of-last-resort obligations, while others do not.
The Social Security Administration's workers' compensation glossary describes competitive state funds as state funds that compete with private carriers. The precise legal structure and availability of each fund are state-specific.
OFFICIAL SOURCE
Where this definition comes from
Glossary entries are anchored to a state agency, statute, board, commission, or recognized workers' compensation authority rather than a generalized summary.
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