July 23, 2003 |
An independent auditor on Tuesday declined to certify financial statements compiled by management of the California's state-run workers' compensation fund, saying the insurer needs to set aside an additional $1 billion to pay future claims. Auditor PricewaterhouseCoopers said the State Compensation Insurance Fund of California has the ability to meet its financial obligations to injured workers for at least the next year.
CALIFORNIA | LOCAL
August 1, 1997 |
A San Fernando Valley restaurateur earned an appointment from Gov. Pete Wilson on Thursday to the State Compensation Insurance Fund's board of directors. Kevin T. McCarney, 42, has owned and operated Poquito Mas Mexican restaurants, based in North Hollywood, since 1984. He also is an SCIF policyholder, a requirement of all board members. "He represents the restaurant industry on the board, and they clearly have the greatest need and use for SCIF," said Matt Taggart, a Wilson spokesman.
January 22, 1999 |
Developers of the Los Angeles area's first speculative high-rise office in nearly a decade have signed their first tenant, just weeks before the building is completed. State Compensation Insurance Fund will relocate from Warner Center to 125,000 square feet of offices at Glendale Plaza, which rises 24 stories above the Ventura Freeway in downtown Glendale. The 10-year lease for nearly one-fourth of the building's rentable office space is valued by industry sources at more than $40 million.
August 6, 2003 |
California's state-owned workers' compensation insurer Tuesday lost a round in its legal battle with Insurance Commissioner John Garamendi. A Superior Court judge in San Francisco denied a preliminary injunction that would have muzzled the state's head insurance watchdog and required him to keep his hands off the troubled carrier.
July 26, 2007 |
Two state law enforcement agencies and the San Francisco County district attorney's office announced Wednesday that they were forming a task force to investigate a state-run insurance company. The criminal investigation by the California Highway Patrol, the California Department of Insurance and the district attorney is focusing on allegations of potential misconduct by former top officials at the State Compensation Insurance Fund, commonly known as the State Fund.
October 16, 1995 |
The cost of caring for employees hurt on the job in California--a politically charged issue that led to major workers' compensation reforms in 1993--has begun to rise significantly again after declining dramatically for two years, state officials reported. The California Department of Insurance released an analysis projecting that costs for workers' compensation coverage will be up 11.3% for all of 1995.
August 10, 2006 |
California's secretive government-run workers' compensation insurance company came under attack Wednesday for fighting a bill that would force it to open its books to state auditors. At issue is legislation by the chairwoman of the Senate Insurance Committee to allow the state auditor to review the administration of the State Compensation Insurance Fund and investigate its finances.
August 16, 2007 |
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.
CALIFORNIA | LOCAL
March 20, 2003 |
The biggest insurer for workplace injuries in California is on the verge of closing its doors to new business, making it highly likely that employers will pay more for coverage whose cost has already soared in recent years, the Assembly Insurance Committee was told Wednesday. The State Compensation Insurance Fund, a state-run nonprofit that insures half of the businesses in California for workers hurt on the job, must stop writing new policies soon, said its president, Dianne Oki.