Surety Bond Requirement for Oklahoma Employers Self-Insurance

The Oklahoma Workers’ Compensation Commission has regulations surrounding workers’ compensation benefits. These regulations create a program that allows employers to opt out of purchasing workers’ compensation insurance and instead meet requirements to qualify for an injury benefits plan. Among those requirements is the purchase of a surety bond.

The amount of the surety bond will vary. It must be the greater of these amounts, as determined by the Insurance Commissioner:

  • $100,000
  • employer’s average yearly incurred workers’ compensation losses for three years preceding the application date
  • for renewal applicants, the amount of the outstanding claims reserves for the employer, as determined by an approved third-party administrator

In lieu of a surety bond, employers can post another form of security approved by the Commission, including an irrevocable letter of credit from an approved financial institution.

Read more about becoming a self-insured employer in the Oklahoma Administrative Code 810:25-9. If you have questions regarding surety bond requirement, contact the Oklahoma Workers’ Compensation Commission or

Photo courtesy KT King (CC BY 2.0)

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About the Author

Melanie Baravik
Melanie is a senior at the University of Missouri - Columbia studying English with an emphasis in creative writing. She is a member of the marketing department and outreach team for, a leading provider of online bonding for clients nationwide.