California’s State Compensation Insurance Fund reported an increase of net income and written premium in its just-released annual report for 2018. Financial highlights of the 2018 annual report include: Net income of $187 million, up from $40 million the previous …
Michael Williams, 34, of Daly City, Calif., has been arrested on 21 felony counts of insurance fraud and grand theft after allegedly working for multiple employers while collecting over $85,000 in workers’ compensation benefits from two different insurers. In November …
Sisters who are CEOs of sewing companies that are subcontracted by True Religion jeans have been sentenced for conspiring with their accountant to hide tens of millions in payroll to avoid paying for workers’ compensation insurance. Sung Hyun Kim and …
The State Compensation Insurance Fund is seeking to cut its workers’ compensation rates, per a recent filing with the California Department of Insurance. The rate filing also includes an overall 9.5 percent rate reduction due to improvements in State Fund’s …
State Compensation Insurance Fund will soon transition to a new outcomes-based medical provider network following a California Division of Workers’ Compensation approval of the new MPN called the State Fund MPN by Harbor Health. State Fund said it is transitioning …
A California workers’ compensation hearing officer was arrested for allegedly trying to steal a settlement check from his client. Department of Insurance detectives arrested Ramon Humerto Otero, 37, of Adelanto, and Efrain Heredia Ojeda, 43, of Corona, on multiple felony …
California’s State Compensation Insurance Fund has filed for a 9 percent increase in collectible premium that will apply to new and renewal workers’ compensation policies effective on or after April 1. Although the rate plan is designed to generate an …
California’s State Compensation Insurance Fund has appointed Peter Guastamachio as its chief financial officer. Guastamachio had been acting CFO since November 2013, and also serves as chief investment officer. As CFO, Guastamachio will direct all of State Fund’s financial policies—including …
The State Compensation Insurance Fund Board of Directors on Tuesday named Vernon Steiner as the new president and CEO of California’s largest workers’ compensation provider. The appointment is on a four-year contract with an annual salary of $450,000 plus a …
Richard Lopez Escamilla Jr., 47, was sentenced in Kings County Superior Court in California on Dec.4 to one felony count of insurance fraud and was ordered to pay restitution of nearly $4.2 million to State Compensation Insurance Fund, SeaBright Insurance …
