STATE FUND PRESIDENT ANNOUNCES RETIREMENT:

State Compensation Insurance Fund announced that after three years of leading California’s largest workers’ compensation insurer, Fund President Dianne Oki will retire in the coming month after a 37-year career at State Fund. “I am extremely proud of what State Fund accomplished during my tenure, especially the way we managed the dramatic changes in our industry over the last few years,” she said. “In an incredibly short period of time, the workers’ compensation market underwent a significant shakeout and consolidation, making State Fund the largest insurer in the state, with a market share of more than 50 percent. Our industry also saw major legislative and regulatory change during that period. I am also pleased to bring my career to a close assured that State Fund is financially sound with solid reserves and surplus that has doubled within the last two years,” Oki said. State Compensation Insurance Fund Board Chair Jeanne Cain announced that the Fund has hired a nationally-recognized consultant, Neal Conolly, of CP Associates, to lead a nationwide search for a new State Fund president. He will also conduct a review of the Fund’s operations, in order to provide the Board and the new president with recommendations for the Fund’s future direction.