California’s largest workers’ comp carrier, State Compensation Insurance Fund, is bucking the general trend of continuing rate decreases with a filing for a 2.4% across the board increase for January 1, 2022. But there is a deeper story. It is steep increases for a subset of classes with rate increases up to 100% that effectively …
The owner of a small contracting company claimed no employees. It turns out it owes over $45,000 in workers’ comp premium to the State Compensation Insurance Fund, according to a …
The State Compensation Insurance Fund’s board of directors will hear this week that the carrier saw a 25% increase in net premiums earned in the first quarter of 2021, but its key ratios also ticked up due in large part to the pandemic. The carrier still produced net income of $50 million thanks to earnings …
California’s State Compensation Insurance Fund ended 2020 with just over $1 billion in net premium earned – a 14.6% decrease from the prior year. Just a few months earlier, however, the decline appeared to be much worse. At the midway point of 2020, State Fund was staring at a 20% drop in premium from 2019 …
California workers’ comp records show that 3.7% of all active state employees have filed a workers’ comp claim for work-related COVID-19. An exclusive analysis of State Compensation Insurance Fund and Division of Workers’ Compensation claim data by Workers’ Comp Executive shows the 8,607 claims filed to date include 5,575 accepted claims and another 3,032 that …
Through the first nine months of 2020, including seven months of a COVID-19 upended economy, the State Compensation Insurance Fund reports that its net premiums earned are off 18% from the prior year at $735 million. The carrier says a rate cut taken at the first of the year and a reduction in audit premium …
State Compensation Insurance Fund reports that net earned premium through the first half of 2020 is down over 20%. The decrease helped drive up its combined ratio to nearly 146% (see chart on page 6). Part of the decrease is due to State Fund’s decision to take a 10% rate cut, but much is tied …
There were nearly 1,100 accepted COVID-19 workers’ comp claims for state employees as of the beginning of August. The Department of Corrections accounted for two-thirds of the cases. Claims by state employees accounted for roughly 5% of the claims filed statewide through the end of July, according to an exclusive Workers’ Comp Executive analysis of …