State Fund Releases 2019 Annual Report

Highlights Include Dividend Declaration and Efforts to Improve Customer Experience

May 7, 2020

(Pleasanton, CA)—State Compensation Insurance Fund (State Fund) has released its 2019 Annual Report, now available online.

In his letter accompanying the report, State Fund President & CEO Vern Steiner discusses State Fund’s actions related to COVID-19, as well as the organization’s efforts to improve its customer technology, expand its workplace safety website, and provide more value to policyholders.

Important financial highlights from the report include:

• Net income of $699 million
• Earned premium of $1.2 billion in premium in 2019—about 11% less than in 2018
• Combined ratio of 95.5%—nearly 40 points lower than in 2018

Additional accomplishments discussed in the report include:

• Declaring $160 million in policyholder dividends
• Launching an online quote and bind system for small businesses
• Integrating a virtual assistant on StateFundCA.com that allows State Fund customers to get quick answers to their questions about claims, medical bills, and more
• Introducing UR Connected—a revolutionary new technology that allows medical providers to receive real-time approvals for medical treatment
• Launching telehealth services to make it easier for patients in rural areas to access high-quality medical care while reducing the time and costs associated with traveling to a doctor’s office
• Introducing a new and improved safety website, SafeAtWorkCA.com

Information about State Fund’s actions in response to the COVID-19 pandemic can be found at www.StateFundCA.com.

State Fund is California’s leading provider of workers’ compensation insurance. Not for profit and funded solely by premiums and investment income, we’ve supported California’s entrepreneurial spirit and played a vital role in the state’s economy for more than 100 years. By innovating in areas such as workplace safety and injured worker care, we’re committed to serving California for the next 100 as well. To learn more or get a quote, contact your broker or visit www.StateFundCA.com.