CASIF Announces $6.8B Alternative Security Program

The board of trustees for the California Self-Insurers’ Security Fund approved and implemented the 2021-22 Alternative Security Program that it said is intended to provide self-insured employers with more financial flexibility. CASIF said the program will free up $6.8 billion in working capital that self-insurers would otherwise have to post as collateral. Self-insured businesses must maintain a deposit equal to their estimated liabilities. Deposits can be posted in cash, letters of credit, surety bonds or securities, but doing so limits an employer’s ability to use its cash...