What type of coverage may a self-insured employer purchase for WC claims that exceed their established limits?

The correct answer is Excess Insurance. Self-insured employers in Minnesota have the option to purchase Excess Insurance to protect themselves from liabilities that exceed the limits they have set for their workers' compensation claims. This type of coverage acts as an additional layer of protection over the self-insured retention, ensuring that if claims surpass the predetermined threshold, the excess policy will cover those additional costs.

Excess Insurance is particularly important for self-insured entities as it helps mitigate the financial risk associated with high-limit claims or catastrophic injuries, maintaining financial stability and ensuring they can meet their obligations to injured workers. This coverage is specifically designed to complement self-insurance strategies and fill gaps that may arise from unforeseen increases in claim costs.

General Liability Insurance and Professional Liability Insurance serve different purposes and do not specifically address workers' compensation claims. Meanwhile, the Workers’ Compensation Fund is a state-managed option that generally applies to employers who are not self-insured, making Excess Insurance the appropriate choice for self-insured employers seeking to extend their coverage limits.