Is the Self-Insurers’ Security Fund Hiding Something?
“It is the public policy of this state that public agencies exist to aid in the conduct of the people’s business and the proceedings of public agencies be conducted openly …
Tagged in: self-insured
Private Self-Insureds’ 2021 Experience
include $2.8 billion for future medical expenses and $1.1 billion for future indemnity benefits. Self-insured employers’ workers’ comp liabilities are at their lowest level in roughly 20 years. In 2001, private self-insured employers had liabilities of $3.8 billion, but this soon topped $5 billion before topping out at $5.6 billion in 2013. The annual report …
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Self-Insured Group Industry’s Latest Numbers
According to the latest data from the state’s Office of Self-Insurance Plans, California workers’ comp self-insured groups (SIGs) are covering more payroll but fewer employers. The number of active SIGs is unchanged, but the number of active affiliates is down by nearly 10% from the prior year’s total. Covered payroll increased by over $225 million, …
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Budget Committee to Investigate DIR’s Vacancy Rate
The Assembly and Senate Budget subcommittees charged with reviewing the Department of Industrial Relations’ budget changes have reviewed the Department’s requests with limited comment, questioning, or pushback. However, one issue did catch the subcommittees’ attention: the 25% vacancy rate at DIR. Senate subcommittee chair Sen. Maria Elena Durazo (D-Los Angeles) announced that the panel would …
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Self-Insured Pursues Subrogation for Comp Claims
The City of Fresno is subrogating against two California contractors for a set of workers’ comp claims it contends were caused by the contractors’ negligence. The contractors allegedly mishandled the construction of a water treatment plant, which the City says resulted in two city workers becoming sick and filing workers’ comp claims. The City is …
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Workers’ Comp Costs Up for Some California Taxpayers
California’s self-insured cities, counties, special districts, and other public agencies saw an increase in workers’ comp costs during 2021 despite an overall decline in the number of newly reported workers’ comp claims. Overall, taxpayers paid $2.56 billion to provide indemnity and medical benefits to injured public employees – an increase of $81.9 million or 3.3% …
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Workers’ Comp Assessments Go Sky High
The Department of Industrial Relations demands on employers (insurers) and self-insured again sets new records. The agency says it needs nearly $1.4 billion to fund 2021 operations. It expects employers to pay an extra 5.9% of workers’ comp premium next year. It is a 50% increase over the 4% surcharge they paid in 2020. The …
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BBSI Leaves ACE Large Deductible Program
Barrett Business Services Inc. (Nasdaq: BBSI) says it could save up to $20 million a year on a new, fully insured workers’ comp program. It also warns that the program could end up costing it an additional $7.5 million if its experience is worse than expected. Company officials say this look back to review its …
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