Voluntary Compensation Funds (not all inclusive)
Mandatory Compensation Funds
A compensation fund is a vehicle set up where your insurance carrier provides a level of coverage and then the state provides a layer above your coverage. There are mandatory compensation fund states where you must enroll if circumstances are met and there are voluntary states where you can elect to enroll the provider. Depending on the circumstance, there may or may not be a benefit to enroll in the fund. The list of states with compensation funds is pretty extensive. But, the main ones you need to be concerned with are Wisconsin, Kansas, Pennsylvania (all mandatory), Indiana and Louisiana (Voluntary states but have significant benefits).
Below is a summary of the compensation fund states and the rules attached to them. Please be advised this information is subject to change at anytime and is provided for informations purposes only.