State Fund Opens Up
The California State Compensation Insurance Fund (SCIF) announced November 9 that the 80,000+ employers written direct through SCIF have a new option. They may choose to select an independent broker to represent them through a broker of record letter. Independent brokers “bring significant and lasting contributions through a wide variety of services” according to SCIF.
This announcement was coupled with an overall filing increase of 5.2% effective January 1, 2011 and expansion of Merit Rating to accounts with premiums above $25,000. The threshold had been $100,000.
SCIF has been working with independent brokers for almost 20 years and this step confirms the value an engaged broker provides for a client. If you or someone you know has their workers compensation insurance directly though SCIF and would like to discuss effective navigation of this system please contact me for a no cost review.