Self-Insured Security Program Adds Members For 2020-21

The alternative security program (ASP) run by the Self-Insurers’ Security Fund is covering $6.5 billion in security deposits for 365 self-insured private employers for the 2020/21 program year. It does so without the members posting security deposits. The total amount covered by the ASP is down roughly $100 million from last year in spite of … Read More »

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Major Workers’ Comp Implications in PG&E Bankruptcy

Pacific Gas and Electric Company’s planned chapter 11 bankruptcy puts in question the fate of the utility company’s self-insured workers’ compensation program. The bankruptcy, it says, will allow it to reorganize in the face massive potential losses from the 2017 and 2018 Northern California wildfires. But what about its self-insured workers’ comp liabilities? And what … Read More »

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Security Fund’s Workers’ Comp Claims Liability Down

The Self-Insurers’ Security Fund (SISF) is seeing a steady decline in its open workers’ comp claim count and annual spend in the wake of the Baker workers’ comp reforms. The improved performance is in spite of the addition of two new estates in its latest fiscal year. SISF is the financial backstop for California employers … Read More »

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Mainstay Case Survives Challenge, Settlements Increase

The Self-Insurers’ Security Fund’s case against the employers and staffing companies that obtained workers’ comp coverage through the failed Mainstay Business Solutions survived another procedural challenge. The case is now going on seven years old. The pace of settlements are picking up, but many are continuing to fight the Fund’s collection attempts. The latest development … Read More »

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SISF Gets Its Lawyers Back… Maybe

A California Court of Appeal says it isn’t necessary to automatically disqualify the lead counsel for the California Self-Insurers’ Security Fund for hiring away a defense attorney from the other side in an on-going case. But it also chose to give the lower court a chance to determine if disqualification is warranted. The lower court … Read More »

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40M SISF Lawsuit In Jeopardy

California’s Self-Insurers’ Security Fund’s (SISF) $40 million lawsuit for joint and several liability against hundreds of former members of a failed healthcare industry self-insured group (SIG) has been delayed. A court has forced it to obtain new counsel. The case, which is over three years old, is being stayed to give SISF time to find … Read More »

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FAILED SIG LIABILITIES GROW

The estimated cost of the bailout for the latest self-insured group (SIG) to fail in California is already growing and the Self Insurer’s Security Fund has yet to complete an audit or examine the claims reserves. But the failure exceeds by nearly double the amount of deposits on file with the Office of Self Insurance … Read More »

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