California Workers’ Comp Loss Ratio at 81%

According to the Bureau’s latest data, California’s workers’ compensation insurance carriers returned a pre-tax underwriting profit of nearly $2 billion last year. The 14% underwriting profit ratio is the third straight year of double-digit underwriting margins, but the results include State Fund’s numbers which adversely skew the results. The results sans State Fund are eye-popping. … Read More »

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Commissioner Lara Approves Anti-Fraud Funds

Insurance Commissioner Ricardo Lara approved the recommended grant amounts for 36 county district attorneys to use to fight workers’ comp fraud in 40 different counties. The $45,889,371 in funds for the 2021/22 fiscal year is the same that California employers provided in the last round of grants, although the allocations differ in some cases to … Read More »

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District Attorneys Jockey For Anti-Fraud Funds

District attorneys from around the state made last-ditch presentations to bolster their requests for a share of the nearly $46 million that is up for grabs this year to fight workers’ comp fraud in the state. The money is part of the $78 million that California employers are required to pay to support the DAs … Read More »

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State Fund Remains California’s Largest Workers’ Comp Carrier

The 2020 California workers’ comp market share totals are in, and the State Compensation Insurance Fund remains the largest writer of workers’ comp coverage. However, there is a new member among the top 10 largest workers’ comp carriers. The new member is Arizona’s CopperPoint Group. Copperpoint bucked the general trend of lower workers’ comp writings … Read More »

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COVID, Fee Schedules Boost State Fund’s 1st Quarter Loss Ratio

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 … Read More »

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Convicted Cop Owes Costs Of Investigation

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 … Read More »

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Three Separate Employers Indicted For Hiding Payroll

District Attorneys in three counties are pressing fraud charges against employers accused of hiding millions of dollars in payroll from their insurance carriers in a bid to lower their workers’ comp premiums. In one case the employer claimed to have only one full time employee, but prosecutors say they’ve found at least $1.7 million in … Read More »

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