A self-insured fund is an association of employers formed for the specific purpose of providing statutory workers’ compensation coverage. This insurance vehicle is for employers that do not have the size or financial capacity to self-insure on their own. It allows small to medium sized companies to assume some control over their workers compensation costs and benefit from the cost savings that self-insurance provides. Normally, employers who join to form a SIF must be homogeneous, meaning they are similar in industry or class codes (i.e. contractors, manufacturers, wholesalers, etc.).