Recent Releases
State Compensation Insurance Fund (SCIF) To Get Favorable Legislation (Workers Compensation Executive, August 16, 2006)
August 17, 2006
Governor Arnold Schwarzenegger and California Insurance Commissioner John Garamendi have teamed up to propose amendments to a bill that would subject the State Compensation Insurance Fund to solvency laws just as other domestic workers' comp carriers. The bill would also not permit the Commissioner to conserve or liquidate it or to tamper with its Board or leadership. Still one element of the bill has the potential for major controversy. An Assembly staffer confirmed to the Workers' Comp Executive that Juan Vargas (D-Chula Vista) is accepting the amendments to his bill: AB 2125. The language in the amendment is the culmination of two years of negotiations between SCIF management, the governor, and the Insurance Commissioner, and in most respects is a win-win for all concerned. For the complete article and more information, please click HERE.