Pleasanton, CA—State Compensation Insurance Fund (State Fund) has announced plans to distribute an approximate $55 million dividend to its qualifying policyholders with policies that took effect between Aug. 20 and Dec. 31, 2019. This dividend equals approximately 15% of the estimated annual premium reported during that time period.

This announcement follows up State Fund’s August declaration of an approximate 15% mid-year dividend that applied to all policies incepted between Jan. 1 and Aug. 19, 2019. The dividend distribution for the entire year equals approximately $160 million.

“Our mission is to provide fairly priced workers’ compensation coverage to any California entrepreneur who needs it,” said Vern Steiner, State Fund’s President and CEO. “Our current operating performance and financial condition allow us to continue to fulfill that purpose and return money to our policyholders at the same time.”

Since its creation in 1914, State Fund has paid out more than $5 billion in dividends to policyholders.

State Fund policyholders eligible for a 2019 dividend will begin to receive dividend payments during the second half of 2020.

To learn more about State Fund, visit StateFundCA.com.

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Disclaimer: Under California law it is unlawful for an insurer to promise the future payment of dividends under an unexpired workers' compensation insurance policy or to misrepresent the conditions for dividend payment. Dividends are payable only pursuant to conditions determined by the Board of Directors or other governing board of the Company following policy expiration. It is a misdemeanor for any insurer or officer or agent thereof, or any insurance broker or solicitor, to promise the payment of future workers' compensation dividends. Past dividend performance is no guarantee of an insurer's future dividend performance.

State Fund is California’s leading provider of workers’ compensation insurance. Not for profit and funded solely by premiums and investment income, we’ve supported California’s entrepreneurial spirit and played a vital role in the state’s economy for more than 100 years. By innovating in areas such as workplace safety and injured worker care, we’re committed to serving California for the next 100 as well. To learn more or get a quote, contact your broker or visit www.StateFundCA.com.