Tagged in: State Fund

Contractor Appeals Audit Claiming Independent Contractors

A small Southern California construction company that claims to be a sole proprietorship with no employees is asking the California Department of Insurance to intervene in a nearly $400,000 premium dispute with its workers’ comp carrier. The home remodeling company says it used independent contractors to complete its projects, but the carrier says the contractor … Read More »

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Employer’s Conviction In Fatality Case Upheld, But Sentence Reduced

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 … Read More »

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State Fund Written Premium Jumps

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 … Read More »

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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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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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State Employee Workers’ Comp Costs Nearly $1Billion

California taxpayers paid out nearly $1Billion – some $845 million – for the 2019-20 fiscal year to provide workers’ compensation benefits to California state workers. The state pays claims but no premium. The total is up 5.2% or $41 million from the prior year and is up $123 million or 17% since the 2017-18 fiscal … Read More »

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Chubb, Hartford Merger Affects California Workers’ Comp Market

Chubb Limited (NYSE: CB) made an unsolicited bid to acquire The Hartford (NYSE: HIG) in what would be a $23 billion deal. Hartford’s board yesterday unanimously rejected the offer after reviewing it with its financial advisors. The merger would have shaken the the California workers’ compensation insurance market where each company is already a major … Read More »

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