Self-Insurers' Security Fund Approves $6.5 Billion for 2020-21 Alternative Program

The board of trustees for the California Self-Insurers' Security Fund has approved the 2020-21 Alternative Security Program, which is intended to provide the state’s self-insured businesses with “greater financial flexibility,” according to a CASISF news release. CASISF says the program will free up $6.5 billion in working capital, which is intended to replace security deposits needed as collateral in self-insured workers' compensation programs. According to CASISF, self-insured businesses maintain a deposit equal to their estimated liabilities. Businesses can make ...