California’s largest workers’ comp carrier, State Compensation Insurance Fund (SCIF), was removed from Credit Watch status by Standard & Poor’s (S&P), which also reaffirmed the company’s “A” financial strength rating.
SCIF and several other workers’ comp carriers with significant exposure to the California market were put on Credit Watch in May 2000. At the time, S&P cited a California Workers’ Compensation Insurance Rating Bureau (WCIRB) study which had indicated a gross loss reserve deficiency of $4.7 billion for the state’s workers’ comp market as a factor in the action. S&P announced that the rating outlook is stable.
Topics California Workers' Compensation
Was this article valuable?
Here are more articles you may enjoy.
AI Bubble Risks Worst S&P 500 Crash Since 2008, Strategist Says 
Uninsurable Future: Managing the Climate-Change-Fueled Home Insurance Crisis 
McDonald’s Hit With Class Action Alleging AI-Powered Menu Price-Fixing 
NY City Accuses Law Firm of Running Injury Claims Fraud Operation From This Issue
