Learn more about the California State Fund and what it does.
The State Compensation Insurance Fund has served California as a strong, stable provider of workers compensation insurance for more than 100 years.
State Fund was created by the Boynton Act of 1913, and it started operations in 1914.
It is required by state law to maintain its headquarters in San Francisco, but has regional offices throughout the state.
State Fund is a vital asset to California businesses and employees with the purpose to provide affordably-priced workers’ compensation insurance to California businesses.
Their leadership philosophy embodies their vision, values, purpose and focus on creating an environment that demonstrates operational effectiveness and accomplishing the goal of protecting California employers and workers.
In some cases this includes providing insurance options when other carriers will not.
State Fund has a strong moral code of doing the right thing 100% of the time.
They are committed to doing business ethically and responsibly in order to help any and all business secure coverage for their employees.
State Fund encourages their employees to have a positive impact in their communities.
This commitment to volunteering, giving, and sustainability includes a Corporate Social Responsibility team that sponsors socially conscious initiatives in an effort to improve the communities they impact.
State Fund is not for profit and funded solely by premiums and investment income.
With approximately 112,000 policyholders, more than $1 billion in premiums, and nearly $21 billion in assets, Californians rely on the security and certainty offered by State Fund.
In summary State Fund’s purpose is to provide fairly priced workers’ compensation insurance, help make workplaces safe, and restore injured workers.
Their policies have a rigorous submission process coupled with a robust policy term ending audit process.
So it is important for companies who are insured through them to have all their financials in order before moving forward with a State Fund policy.
We are available any time to answer your insurance or risk management questions. We will see you again soon!