State Fund Mired In Actuarial, Legal Issues
Amidst squabbling by auditors over the strength of its reserves,a listing State Compensation Insurance Fund will soon be given newdirectives by the California insurance commissioner to help keep itafloat until an overhaul of the workers compensation system iscomplete.
State Funds auditors, PricewaterhouseCoopers, and its appointedactuary, Milliman USA, disagree on the amount of reserves needed bythe State Fund, with PwC claiming the reserves are short by $1billion. The DOI said its own findings are similar to those ofPwC.
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