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BUSINESS
March 3, 2011 | By Marc Lifsher, Los Angeles Times
A four-year criminal investigation into alleged conflicts of interest, self-dealing and misuse of hundreds of millions of dollars at a state-run insurance company has closed without any charges filed. The State Compensation Insurance Fund disclosed the news in an internal staff memo, released Wednesday. Tom Rowe, State Fund's president, said he was told officially that a task force made up of the California Highway Patrol, the state Department of Insurance and the San Francisco district attorney's office "has completed its investigation of former State Fund employees and directors.
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BUSINESS
December 23, 2013 | Marc Lifsher
Employers, especially owners of small businesses, are about to see increases in their workers' compensation insurance bills. Insurance Commissioner Dave Jones looked at the $14-billion-a-year market and advised that premium increases of 6.7% would not be out of line for policies that take effect after Jan. 1. The state's largest carrier, the government-run State Compensation Insurance Fund, plans to raise its rates roughly 6.5% beginning in March....
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BUSINESS
May 11, 1994 | STUART SILVERSTEIN, TIMES STAFF WRITER
In one of the biggest workers' compensation penalties assessed in California, an insurance company has been ordered to pay more than $1 million to a Los Angeles man whose rehabilitation benefits were improperly cut off for 4 1/2 years.
BUSINESS
March 3, 2011 | By Marc Lifsher, Los Angeles Times
A four-year criminal investigation into alleged conflicts of interest, self-dealing and misuse of hundreds of millions of dollars at a state-run insurance company has closed without any charges filed. The State Compensation Insurance Fund disclosed the news in an internal staff memo, released Wednesday. Tom Rowe, State Fund's president, said he was told officially that a task force made up of the California Highway Patrol, the state Department of Insurance and the San Francisco district attorney's office "has completed its investigation of former State Fund employees and directors.
BUSINESS
November 30, 2004 | Julie Tamaki, Times Staff Writer
An influential government-backed insurer that sells workers' compensation insurance to thousands of California business owners proposed a 5% rate decrease Monday. The announcement by State Compensation Insurance Fund is significant because with 268,000 policyholders, State Fund has the ability to influence rates paid by all employers.
CALIFORNIA | LOCAL
March 21, 2010
Frank's compensation Until November, Janet Frank was president of State Fund, a hybrid public-private organization that is the foundation of California's workers' compensation system. Among her earnings in her two years there: $937,000 total base salary $335,500 performance bonuses $139,750 signing bonus $107,250 "recruitment and retention" bonuses $107,000 compensation for unused vacation, holiday, personal days Source: State Compensation Insurance Fund
BUSINESS
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.
BUSINESS
July 16, 1992 | From Times Staff and Wire Reports
State Fund Alleges Workers' Comp Scam: The State Compensation Insurance Fund filed a federal racketeering suit against a group of individuals and firms, mainly in Orange County, involved in the temporary employment business. The fund, a state agency that sells workers' compensation insurance, says the defendants defrauded it of more than $6 million.
BUSINESS
January 31, 1995
A quasi-public state insurance fund said Monday that it has sued an Irvine company and four of its operators for $1 million, alleging that they misrepresented payroll and other business records so they could pay lower premiums for workers' compensation coverage.
BUSINESS
December 18, 2010 | By Marc Lifsher, Los Angeles Times
Nearly four years ago, state authorities forced out top-level officials at the government-run workers' compensation insurance firm, revamped the operation and launched a criminal investigation into reports of conflicts of interest, self-dealing and misuse of as much as $1billion. Today, that probe involving the State Compensation Insurance Fund continues in silence as prosecutors face possible statutes of limitations that would bar some criminal charges and civil lawsuits. The last publicly known activity occurred 18 months ago, when a search warrant was issued on a former board member in Redding, about 150 miles north of Sacramento.
CALIFORNIA | LOCAL
March 21, 2010
Frank's compensation Until November, Janet Frank was president of State Fund, a hybrid public-private organization that is the foundation of California's workers' compensation system. Among her earnings in her two years there: $937,000 total base salary $335,500 performance bonuses $139,750 signing bonus $107,250 "recruitment and retention" bonuses $107,000 compensation for unused vacation, holiday, personal days Source: State Compensation Insurance Fund
BUSINESS
June 25, 2009 | Marc Lifsher
Gov. Arnold Schwarzenegger's plan to raise $1 billion by selling part of the state's scandal-plagued workers' compensation insurance company is running into strong flak from small-business advocates, the insurance industry and the state's elected insurance commissioner. The governor wants to help reduce a $24-billion budget deficit by giving private insurers a chance to buy about half of customers' policies at the government-controlled State Compensation Insurance Fund.
BUSINESS
October 20, 2008 | Marc Lifsher, Times Staff Writer
Next month, a little-known state agency that doubles as a $20-billion insurance company will hold its first public board of directors meeting in 94 years. After years of secrecy, questionable behavior by board members and more recently scandal at the agency, the Legislature and Gov. Arnold Schwarzenegger ordered sweeping changes now underway.
BUSINESS
August 29, 2007 | Marc Lifsher, Times Staff Writer
sacramento -- The troubled state-backed workers' compensation insurance company sent a status report to lawmakers Tuesday, stressing its "significant progress in getting the organization back on track." But the 10-page report from Jeanne Cain, chairwoman of the San Francisco-based State Compensation Insurance Fund, was silent when it came to detailing a criminal probe into what Department of Insurance officials say may involve more then $1 billion in misappropriated state funds.
BUSINESS
August 16, 2007 | From Times Staff and Wire Reports
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.
BUSINESS
April 12, 1995 | CHRIS WOODYARD, TIMES STAFF WRITER
In what was being termed one of the largest workers' compensation fraud cases in recent state history, the state obtained a $5.5-million judgment against a Seal Beach man who allegedly ran a fraud scheme against the State Compensation Insurance Fund. U.S. District Judge Terry J. Hatter Jr. ruled against Vincent M. Marconi, 63, who is awaiting extradition proceedings in England on a separate criminal case involving mail fraud charges, his attorney confirmed.
BUSINESS
July 26, 2007 | Marc Lifsher, Times Staff Writer
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.
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