Garamendi Says SCIF Reserves <b>ARE</b> Short

California Insurance Commissioner John Garamendi issued the following statement yesterday following SCIF's announcement of audit results, and their ongoing dispute with the Commissioner's office:"Since taking office in January I have worked to address the growing workers' compensation system crisis. More compelling evidence of that crisis came today in the form of a PricewaterhouseCoopers audit of the State Compensation Insurance Fund. Auditors found that State Fund's reserves are inadequate by $1 billion, a number that mirrors my Department's own findings and reflects a State Fund that is n...