The State Compensation Insurance Fund, the scandal-plagued state-run insurance company under investigation for allegations of potential misconduct by former top executives, picked an industry veteran Wednesday as its new president.
Commonly known as the State Fund, the insurer is based in San Francisco and provides workers' compensation coverage to about 220,000 California employers.
The State Fund's board announced it had selected as its new president Janet Frank, currently executive vice president of North American field operations for CNA Financial, the nation's fifth-largest insurance company.
Frank "has been recognized for her strategic planning and process improvement capabilities," said Jeanne Cain, the fund's board chairwoman.
"She will be a tremendous asset. . . as we continue work to create an organization steeped in integrity and transparency," she said.