A fund established by the state’s government to finance a type of legally mandated insurance; for example, workers compensation.
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A fund set up by a state government to provide a specific line or lines of insurance, such as workers compensation.
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US: A fund set up by a state government to provide a specific line or lines of insurance. Some state permit private insurers to compete with the state fund.
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MEDICAL, US: Insurer established and operated by a state government that is a mandatory insurance program such as workers’ compensation insurance.