• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • WCW HOME
  • Submit a Wire!
  • Advertising
  • Media Partners
  • About
  • Contact Us

WorkCompWire

Your Trusted Source for Workers Compensation News

Enlyte
  • Workers Compensation News
    • Workers Compensation Industry News
    • Association, Rating & Research News
    • Claims, Legal, & Compliance News
    • Legislative & Regulatory News
    • Risk Management News
    • Work Force & Human Resource News
  • Featured Articles
  • Leaders Speak
  • Editor’s Forum
  • People On The Move

CA State Fund Declares $75 Million 2020 Mid-Year Dividend

September 3, 2020 - WorkCompWire

Pleasanton, CA – State Compensation Insurance Fund (State Fund) recently announced plans to distribute an approximate $75 million dividend to its qualifying policyholders with policies that took effect between January 1 and August 26, 2020. This dividend equals approximately 10% of the estimated annual premium reported during that period.

State Fund’s Board will consider dividends again for the remainder of the 2020 policy year later this year. While the board cannot guarantee future dividends, this mid-year declaration does not affect the possibility of a future payout for the remainder of the 2020 policy year.

Through July of this year, State Fund reported approximately $700 million in estimated annual premium and approximately $60 million in realized capital gains.

“We’re working hard to support our policyholders in every way we can during this difficult time,” said State Fund President and CEO Vern Steiner. “Due to our strong, stable financial position and the claims outcomes we’ve seen over the past several years, we’re able to return money to policyholders and we want to let them know it’s coming as early as possible. This is money they can count on as they plan for next year amidst so much uncertainty.”

State Fund has paid out more than $5 billion in dividends to policyholders over its history—more than any other California workers’ compensation carrier. Just last year State Fund declared an approximate $160 million dividend for 2019 policyholders.

State Fund policyholders eligible for a 2020 dividend will receive their payments after the expiration date of their individual policies.

Source: State Fund

Filed Under: Industry News, Risk Management News, Top Stories, Workers' Compensation

Primary Sidebar

Get Our Free Newsletter:

Select list(s) to subscribe to


By submitting this form, you are consenting to receive marketing emails from: WorkCompWire.com, PO Box 1114, Culver City, CA, 90232, http://www.workcompwire.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

myMatrixx

Paradigm

MSQ

Follow Us on Twitter

Tweets by WorkCompWire

Workers Compensation News Topics

  • Top Stories
  • Featured Articles
  • Leaders Speak
  • Editor’s Forum
  • The RxProfessor
  • Industry News
  • Association, Rating & Research News
  • People On The Move
  • Claims, Legal, & Compliance News
  • Legislative & Regulatory News
  • Risk Management News
  • Work Force & Human Resource News
  • Workers’ Compensation

Wire Archives

Copyright WorkCompWire © 2023