Embattled State Insurer Faces New Probe

Law360, New York (March 28, 2007, 12:00 AM EDT) -- California’s insurance commissioner has called for an audit of possible mismanagement and conflicts of interest at the troubled State Compensation Insurance Fund.

Commissioner Steve Poizner’s decision on Wednesday to investigate the state’s biggest workers’ compensation insurer came following an internal examination by the fund’s board as well as a review by the state attorney general’s office.

The San Francisco-based fund, which is responsible for providing 230,000 employers with employees’ compensation insurance, runs as a private company, but the majority of its board members are tapped by...
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