(Pleasanton, CA) – State Compensation Insurance Fund’s 2017 Annual Report is now available online. Important financial highlights include:
“State Fund’s financial position remained strong in 2017,” said Vern Steiner, President & CEO. “A strong financial position allows us to concentrate on what is ultimately the purpose of workers’ compensation coverage – which is caring for people and providing an important safety net for Californians.”
In his president’s letter accompanying the financial report, Steiner points out that State Fund has made important changes to enhance its medical management of claims, resulting in significant cost savings and quicker resolution. Treatment accomplishments detail significant positive results in reducing opioid prescriptions, saving lives as well as money. Another highlight shows the positive results of a new loss prevention strategy.
Established in 1914 by the state legislature, State Fund is California’s stable 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.
