State Compensation Insurance Fund reports that its net workers’ comp premium earned last year jumped 21.7% as payrolls at California businesses recovered from pandemic-induced shutdowns. However, company officials note that its calendar year loss and loss adjustment expense ratios are both up nearly 5 points (see chart). The financial news will be presented to its …
The Sixth District Court of Appeal rules that a concrete contractor was properly convicted for failing to have workers’ comp coverage, offering a doctored cert, filing a false exemption, and tax evasion. The appeals court also upheld a $10,000 fine. But ordered the lower court to reduce Ian Czirban’s sentence from three years of federal …
The State Compensation Insurance Fund’s board of directors will hear next week that the quasi-governmental carrier saw its net premium, earned through the first six months of the year, jump 24.4% compared to results at the midpoint of 2020. The results are due to higher reported payroll as California businesses reopen operations and bring back …
A former California Highway Patrol officer agreed to plead guilty in a workers’ comp fraud case and pay restitution. Later he balked at repaying the agency and the State Compensation Insurance Fund for what they spent investigating and proving the case against him. However, the Third District Court of Appeal says that Daniel Cory Clapp …
Sacramento Superior Court Judge Steven Gevercer issued a strong rebuke to State Compensation Insurance Fund in rejecting its efforts to force Insurance Commissioner Ricardo Lara and special counsel Bryant Henley, a key advisor, to sit for depositions. Judge Gevercer also rebuked CDI and the lawyers for the company at the heart of the controversy. The …
The State Compensation Insurance Fund reports that its earned premium for the first quarter of the year is down 20.7% from the prior-year period. The better news is, losses are down as well. The drop reflects a 10% rate cut State Fund took in January 2020, as well as the impact of a $45 million …
The State Compensation Insurance Fund’s board of directors approved $165 million in additional support for its newly-established programs to aid policyholders and essential employees. The effort doubles the amount of funds available for businesses with essential employees to $50 million and creates a new $50 million fund to aid other businesses in reopening safely when …
The State Compensation Insurance Fund is not waiting for a compensability finding to aid policyholders and essential workers impacted by the COVID-19 pandemic. The carrier has created two funds, one to help policyholders buy necessary safety-related equipment and another to help their workers with medical bills or lost wages if they become ill with COVID-19 …