SCIF Net Premiums Drop 19.3%, Combined Ratio Climbs

Net earned premiums are down for State Compensation Insurance fund as a result of competition, a rate decrease and lower audited premium, according to agenda materials for this week's board of directors meeting. “Net premiums earned of $288 million were 19.3% lower than the prior year, which can be attributed to an ongoing competitive environment, our filed rate decrease of 10% effective January 2019, and lower audited premium compared to last year,” according to a report on the carrier’s statutory financial results for the first quarter of 2019. “The most sign...