state fund News

California State Fund Pledging $50M for Essential Workers During COVID-19 Crisis

California’s State Compensation Insurance Fund announced on Monday that it will establish two new funds to support the health and recovery of essential workers and workplace safety during the COVID-19 crisis. The first fund, the Essential Worker Support Fund, is …

California’s State Fund Announces Credit Extensions, Moratorium on Cancellations

California’s State Compensation Insurance Fund announced several steps to support policyholders during the COVID-19 crisis, including a moratorium on policy cancellations and late payment penalties. State Fund also said it will extend credit to any business negatively impacted by COVID-19 …

California State Fund Declares 15% Dividend for 2019 Policy Year

California State Compensation Insurance Fund announced plans to distribute a roughly $55 million dividend to its qualifying policyholders with policies that took effect between Aug. 20 and Dec. 31, 2019. The dividend amounts 15% of the estimated annual premium reported …

California State Fund Launches Telehealth Services

California’s State Fund will now provide injured workers round-the-clock access physicians from a desktop computer, tablet or mobile phone. State Fund on Thursday announced its partnership with Kura MD, a provider of telehealth services, to offer health services to injured …

California State Fund Says It Reduced Opioid Prescriptions by 60%

California’s State Compensation Insurance Fund is reporting a significant reduction in the number of opioid prescriptions for injured workers through a program launched four years ago. State Fund’s opioid-reduction strategy, which included early prevention in new cases and reduction of …

Business Coalition Challenges Fee on Montana Workers’ Comp Assets

A business coalition is asking a judge to stop state officials from imposing a fee on assets of Montana’s workers’ compensation fund to plug a budget gap. The suit filed Monday in state District Court in Lake County says employers …

California State Fund 2016 Report Shows 128K Policies Written

The California State Compensation Insurance Fund’s 2016 annual report shows a net income of $192 million in 2016. Other important highlights from the newly released report include: 128,000 policies written in 2016. Earned net premiums of $1.5 billion. Policyholders’ surplus …

Montana Lawmakers Table Privatization of $1.6B Workers’ Comp Fund

Montana lawmakers have tabled a proposal seeking to dismantle and privatize the state’s massive workers’ compensation system, saying the matter is too daunting to take up in the waning days of the legislative session. Instead, a Senate Committee decided to …

California State Fund Files April 1 Rating Plan

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 …

Former California State Fund Executive Fined for Conflict of Interest

A former top executive at California’s State Compensation Insurance Fund has admitted to charges of a conflict of interest in awarding contacts to a software firm while he was at State Fund, it was made public on Friday by the …