Today’s issue of WorkCompRecap features a couple of announcements around California State Compensation Fund (SCIF)’s recent declaration of a $50 million dividend (its first since 2001) in November. The dividend was to be paid as a premium credit, and originally 2012 renewal was a stipulation. After a discussion with the Department of Insurance, State Fund’s Board of Directors amended the declaration to eliminate the renewal requirement. Insurance Commissioner Dave Jones applauded the change, saying that State Fund’s Board of Directors made the right move.
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Also in dividend news today is Texas Mutual, who announced an $819,218 dividend to the National Federation of Independent Business (NFIB) safety group for manufacturers. Members of the NFIB manufacturing safety group have shared in $2 million in group dividends since 2007.
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