State Compensation Insurance Fund and the nurse staffing firm ReadyLink are due in court next week to start the first of possibly two trials. The decade-long dispute concerns workers’ comp premium on alleged per diem payments. ReadyLink is countersuing for breach of contract but will have to wait to put these claims to a jury. …
The State Compensation Insurance Fund remains California’s largest workers’ comp carrier, but the carrier saw less new business in 2022 as premiums dipped slightly to $1.175 billion. A 5% decline in net premiums was partially offset by an average 8% rate increase at the start of 2022 that targeted select high-risk classes. The strategic underwriting …
The Fourth District Court of Appeal says Insurance Code section 11664 only requires carriers to notify insureds if the premium rate in their governing classification is going up by 25% or more. Carriers are not obligated to tell insureds that they will pay more due to a change in governing or other classifications. The decision …
State Compensation Insurance Fund managers say California’s competitive workers’ comp market contributes to lower premium for the carrier. And broader economic forces are affecting its new business. But underwriting strategy changes, added to improvements to its expense and loss ratios, provided positive results for the quarter, including a 6.8% improvement in its combined loss ratio. …
A filed rate increase and higher audit premium combined to push workers’ comp net premiums earned at the State Compensation Insurance Fund to $591 million for the year’s first half. The rate increase effective January 1, 2022, was for 8% overall, far outpacing the 1.7% uptick in premium that State Fund’s management team reported to …
The bill for providing workers’ compensation benefits to California state employees reached nearly $900 million for the 2020-21 fiscal year as costs climbed 5.3% from the prior year. The increase amounts to an additional $45 million spent on medical care, indemnity benefits, and claims adjusting costs. The total cost as a percentage of state payroll …
Gov. Gavin Newsom is reaching back into the ranks of organized labor for his next Legislative Affairs Secretary. Newsom tapped Christy Bouma, director of governmental affairs for the California Professional Firefighters Association, to fill a position that California Labor Federation veteran Angie Wei is vacating. Wei and Bouma are also former commissioners on the Commission …