CA State Fund Issues $100 Million Policyholder Dividend
Sacramento, CA (WorkersCompensation.com) - State Fund’s Board of Directors have approved a $100 million dividend to qualifying policyholders for the 2012 policy year. The dividend represents approximately 10 percent of policyholders’ 2012 estimated annual premium and is a direct result of sound investment returns and improved efficiencies at State Fund.
The Board also authorized a 7 percent rate reduction that reflects the expected savings from SB 863. The rates will apply to the filing currently under review by the California Department of Insurance (CDI) and are expected to take effect in the first quarter of 2013.
The dividend and rate reduction were approved October 4 by State Fund’s Board of Directors and Executive Committee at a special meeting in Napa.
State Fund is committed to serving California’s businesses and employees, and helping to grow California’s future.