state fund News

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 …

Sharks, Beer Among Most Popular Headlines in West

For years newshounds have endeavored to figure out a way to predict what stories will prove most popular with readers. While a few web news aggregators have had some measure of success and have steadily drawn in readers with hot …

California’s State Fund Board Declares $100M Dividend

The board of directors for California’s State Fund Compensation Insurance approved a $100 million dividend to qualifying policyholders for the 2013 policy year. The dividend represents roughly 8.6 percent of policyholders’ 2012 estimated annual premium. “State Fund has made significant …

FBI: California Senator Tied up in Workers’ Comp Fraud

An FBI investigation shows that state Sen. Ronald Calderon accepted bribes from a hospital executive in Southern California who ran an alleged workers’ compensation scheme, the Al Jazeera America news outlet is reporting. Calderon, D-Montebello, who chairs the Senate Insurance …

State Fund Begins Distributing $100M Dividend

California’s State Compensation Insurance Fund will begin issuing $100 million worth of dividend payments to eligible policyholders in early July, the state’s largest workers’ compensation insurer announced on Tuesday. The dividend be paid on the 2012 policy year, and eligible …

Montana State Fund Lowers Rates for 2014

Montana State Fund’s board of directors announced a six percent rate decrease for 2014. The decrease is effective July 1 this year. Since 2007 State Fund has lowered average rates to Montana businesses by 34.5 percent, according to the organization. …

State Fund 2012 Annual Report Shows Net Income Increase

California’s State Compensation Fund’s annual report for 2012 was released online Tuesday, and it reflects an increase in net income for California’s largest workers’ comp insurer. The report comes as State Fund approaches the three-year mark of a restructuring plan …

Carriers ‘Uncertain’ About California Workers’ Comp Reform

Editor’s Note: This is the fourth in a series of articles to look at California’s workers’ compensation reform law, which takes effect Jan. 1, 2013. Insurance carriers, along with the many stakeholders who are watching and waiting as California’s workers’ …

Profile: Workers’ Comp Fraud Expert Takes Old School Approach

When a Southern California family was convicted of workers’ compensation insurance premium fraud, it wasn’t due to sophisticated software, a supercomputer or even high-tech surveillance techniques. It was the result of good old-fashioned detective work, according to Maryann Lazernik, who …

State Fund Chief Holds High Expectations for Calif. Workers’ Comp

If all goes well, workers’ compensation reform in California may yield even greater savings than originally believed. That is according to State Fund President and CEO Tom Rowe, who gave the keynote speech on Friday at the opening of the …