NU Online News Service, May 22, 10:20 a.m. EDT–An independent banks self-insurance group being formed in California said it expects to realize savings of 20 to 30 percent on workers’ compensation costs.

Creation of the Independent Banks Self-Insurance Group, or IB-SIG, follows the lead of other groups in the state which have formed SIGs. Those include public entities, two auto groups, and a group of private schools, Kim Santin, executive director with Bickmore Risk Services, administrator of the bank SIG, told National Underwriter.

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