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Established in 1914 by the state legislature, State Fund is California's most reliable provider of workers' compensation insurance and a vital asset to California businesses. State Fund supports California's entrepreneurial spirit and plays a stabilizing role in the economy by providing fairly priced workers' compensation insurance, helping California employers keep their workplaces safe, and restoring injured workers.



 

Congress Adjourns Before Renewing Terrorism Risk Insurance Act

December 18, 2014


Congress has adjourned for the year before renewing the Terrorism Risk Insurance Act (TRIA).

“As a precaution, State Fund purchased additional reinsurance for 2015 in the event TRIA was not renewed,” said Jennifer Vargen, Executive Vice President of Public Affairs. “We felt it prudent to secure coverage early, before capacity in the reinsurance market was exhausted and fortunately, we were able to secure coverage for 2015 with an option to renew in 2016.” 

State Fund has joined with other state funds across the country in advocating for the renewal of TRIA, which has provided a backstop for what could be catastrophic losses to workers’ compensation programs across the nation, and will resume that advocacy with the new Congress.

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