(1) The fund shall assume the workers' compensation obligations of a private self-insurer that come due after the private self-insurer has been determined to be an insolvent self-insurer.
(2) The fund is not liable for the payment of any penalties or interest assessed for any act or omission of a person acting on behalf of the fund.
(3) The fund is a party in interest in all proceedings involving workers' compensation claims against an insolvent private self-insurer whose workers' compensation obligations have been paid or assumed by the fund. The fund has the same rights and defenses as the insolvent private self-insurer, including but not limited to all of the following:
(a) to appear and deny, defend, and appeal a claim; and
(b) to receive notice of, investigate, adjust, compromise, settle, and pay a claim.
(4) The fund shall concur in department decisions relating to allowing an employer to self-insure.