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DEPARTMENT OF INDUSTRIAL RELATIONS JON WROTEN, C HIEF (916) 574-0300

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Presentation on theme: "DEPARTMENT OF INDUSTRIAL RELATIONS JON WROTEN, C HIEF (916) 574-0300"— Presentation transcript:

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2 DEPARTMENT OF INDUSTRIAL RELATIONS JON WROTEN, C HIEF (916)

3 SELF INSURANCE BY THE NUMBERS $ B ILLION - T OTAL P AYROLL 4,002,919 C OVERED E MPLOYEES 1 OUT OF EVERY 4 WORKERS IN C ALIFORNIA IS COVERED BY S ELF I NSURANCE

4 SELF INSURED GROUPS (SIG)

5 SELF INSURED GROUPS 31 SIG S IN C ALIFORNIA 23 ARE A CTIVE 4,719 - SIG E MPLOYERS

6 SELF INSURED GROUPS 2.25% OF C ALIFORNIA W ORKFORCE 354,000 - T OTAL E MPLOYEES $ 4.8 BB – T OTAL P AYROLL

7 SELF INSURED GROUPS T OTAL EFL $ 150,675,479 P OSTED D EPOSIT $ 219,134,602 R EQUIRED D EPOSIT $ 217,054,946 D EPOSIT S URPLUS $ 2,079,656 SIG S MOVED FROM A DEPOSIT DEFICIT LAST YEAR TO DEPOSIT SURPLUS THIS YEAR !!

8 OSIP IMPROVEMENTS I NTRODUCING E-F ILING ON S TATEWIDE C LAIMS A DMINISTRATOR T ESTING E LECTRONIC T RANSFER F UNDS (ETF) N EWSLINE B ULLETINS AND U PDATES

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10 L ACK OF R EGULATORY O RDER Board of Trustees SIG Administrator Members Auditors Actuary TPA

11 B RINGING O RDER TO D ISARRAY Auditors Actuary TPA Members Board of Trustees SIG Administrator

12 REGULATORY GUIDANCE LETTERS Board of Trustees Financial Auditors Actuaries Members Actuarial Rate Plans

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14 SIG ACTUARIAL PEER REVIEWS

15 REGULATORY EXAMINATIONS 6 SPECIAL EXAMINATIONS ORDERED CA-SIG NEGOTIATED EXEMPTION IF SIG’s VOLUNTARILY PROVIDED A REGULATORY EXAMINATION VERY FEW SIGs HAVE TAKEN ADVANTAGE OF THE VOLUNTARY EXAMINATIONS

16 SB863

17 SB 863 C HANGES S ECURITY D EPOSIT 80% C ONFIDENCE L EVEL IS G ONE T AX G AP IS G ONE

18 A CTUARIAL B ASED C OLLATERAL D EPOSIT A CTUARIAL C ENTRAL E STIMATE ( EXPECTED ) I NCLUDING IBNR, ULAE AND ALAE SB 863 C HANGES S ECURITY D EPOSIT

19 SB 863 C HANGES P ROFESSIONAL E MPLOYER O RGANIZATIONS AND SIMILAR TYPE STAFFING FIRMS N O N EW PEO S E FFECTIVE A NY CURRENT PEO S R EVOKED BY

20 SB 863 C HANGES S ELF I NSURERS S ECURITY F UND G REATER I NVOLVEMENT IN COLLATERAL DECISIONS SISF IS I NDEMNIFIED FROM LIABILITY IF OSIP DOES NOT IMMEDIATELY TURN OF DEFAULTED LIABILITIES

21 FUTURE OF SIGs AND SELF INSURANCE IN CALIFORNIA E XPANDING D EMAND FOR S ELF I NSURANCE I NCREASED A CCESSIBILITY TO BECOME S ELF I NSURED S TREAMLINING APPLICATION AND APPROVAL PROCESS

22 2013 REGULATORY PLAN C ONTINUE TO I MPLEMENT SB863 A LIGNING REGULATIONS WITH A FRAMEWORK FOR THE FUTURE O PPORTUNITIES WILL EXIST FOR PUBLIC PARTICIPATION AND INPUT INTO THE PROC ESS

23 QUESTIONS


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