Despite the generally poor workers’ comp marketplace conditions throughout California, San Francisco-based State Compensation Insurance Fund announced projected dividends totaling $82 million for policyholders throughout the Golden State.
State Fund is one of the few California workers’ comp carriers that continues to declare annual dividends. State Fund declared a $25.5-million dividend for policies incepting in the first quarter of 1999 and projects dividend declarations for the second through fourth quarters of 1999.
According to State Fund, the dividends will be based on the amount of premium, the loss experience on individual policies and group loss experience. Dividends will be paid to qualifying policyholders in every county in California. State Fund has paid dividends to its policyholders for 86 consecutive years and total dividends paid exceed $4.8 billion.
With more than 215,000 policyholders, State Compensation Insurance Fund is California’s largest provider of workers’ comp coverage.
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