Shrinking State Fund Adapts to Changing Market Conditions

State Compensation Insurance Fund celebrated its 100th year of serving California's work comp market as a leaner operation than it has been in recent years. Seven years ago, State Fund employed 8,257 employees and wrote $2.4 billion in written premium accounting for 26.5% of all premium written in the state. As of July 1, the carrier had 4,178 employees, according to materials from a recent board of directors meeting. The most recent market share data from the Department of Insurance shows the state-chartered carrier wrote $1.1 billion in premium in 2013, grabbing just 10.8% of the ma...