The California State Compensation Insurance Fund’s 2016 annual report shows a net income of $192 million in 2016.
Other important highlights from the newly released report include:
- 128,000 policies written in 2016.
- Earned net premiums of $1.5 billion.
- Policyholders’ surplus grew by $156 million since Dec. 31, 2015.
- Net investment income of $627 million.
“Last year marked another year of healthy competition in the California workers’ compensation market,” Vern Steiner, State Fund’s president and CEO, said in a statement. “We were pleased to introduce a rate filing that included an overall decrease in collectable premium of 9.5 percent as well as an expanded pricing model, which further enhances pricing accuracy and makes our rates more stable year over year.”
Other accomplishments include transitioning to an outcomes-based medical provider network, the State Fund MPN by Harbor Health. The network is designed to improve physicians’ ability to manage injured worker’s treatment and improve patient outcomes.
The annual .
State Fund is California’s largest provider of workers’ compensation insurance.
Was this article valuable?
Here are more articles you may enjoy.
Cost of Howden-Driven Talent War Rises to $31M for Brown & Brown 
Trump Administration Targets Dismantling of Already-Weakened DEI 
Florida Woman Drives Elevated Pickup Over Lamborghini Sports Car in Parking Lot 
No, Florida Lawmakers Did Not Repeal the No-Fault Auto Insurance Law 
