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.