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State Fund to Pay Refunds to Customers

LABOR | THE STATE

October 16, 1997|Stuart Silverstein

California's biggest workers' compensation insurer, State Compensation Insurance Fund, said it expects to pay $99 million in refunds to its business customers that held workers' compensation policies in 1996. The amount is equivalent to $436 for each of the company's 227,000 customers, although the actual payouts will vary widely, and not all customers will receive the dividends. The $99 million also amounts to 10% of the premiums paid by employers last year. State Compensation said the refunds reflect savings stemming from improved workplace safety.

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