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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.




State Fund Leaders Testify at Senate Hearing

February 06, 2008

SACRAMENTO - State Compensation Insurance Fund President Janet Frank and Board Chair Jeanne Cain today testified at an informational hearing of the Senate Banking, Finance and Insurance Committee held to review the findings of the operational review conducted by the California Department of Insurance (CDI), which were released last December.

At the hearing Frank, who joined State Fund last October and recently marked her first 100 days with the organization, outlined State Fund’s strong progress toward implementing the CDI’s recommendations, her assessments of State Fund operations and the 2008 strategic initiatives she will implement to further move the organization forward.

“In March 2007, our Board took unprecedented action that set State Fund on a new course,” said Frank. “The pace and magnitude of change in this organization has been remarkable. Today, we are a more open, more accountable and more collaborative operation and we remain committed to this positive course.”

Cain provided a brief overview of the significant work State Fund has accomplished and the profound change it has experienced since the last time State Fund leaders appeared before the committee last March.

“State Fund has never been in a better position to improve its operations and align them with industry best practices,” Cain said. “The work of the Board, new management and the CDI’s operational review has provided a road map for the way forward.”

Cain called Frank “a tremendous asset to the State Fund as we continue work to create an organization steeped in integrity and transparency.”

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