SAN FRANCISCO, Dec. 9, 2010 /PRNewswire/ -- State Fund, California's largest provider of workers' compensation insurance for nearly 100 years, announced today a geographic strategy that will position the company even more strongly for the future.
State Fund will reduce its real estate footprint over the next three years and consolidate operations into areas of the state where it is more economical to do business. State Fund expects to save nearly $200 million in operating costs, delivering a more efficient and agile insurer, better prepared to effectively manage the cost of workers' compensation for all Californians.
Beginning in September 2011, State Fund will significantly reduce the size of their Home Office presence in San Francisco and relocate many corporate functions to their offices in Pleasanton, Vacaville, and Sacramento. Over the next three years they will also consolidate their regional Claims and Underwriting function into central locations in Eureka, Redding, Sacramento, Stockton, Pleasanton, Fresno, Bakersfield, Monterey Park, Riverside, and Santa Ana.
State Fund President and CEO Tom Rowe comments that, "In recent years, we have made strides in improving services, enhancing our customer focus, and making it easier to do business with us. Now we are taking several steps to achieve our goal of greater efficiency and long term operational stability."
In a letter to brokers, Tom Rowe assured brokers, "We are committed to always being here for you and your clients and will continue to offer local claims liaisons and marketing representatives as well as other State Fund services you've come to rely on, like safety and auditing."
State Fund notes that while change can be challenging, they will implement this restructure in an orderly transition and continue to provide uninterrupted protection for California employers and workers.
EDITOR'S NOTE: Established in 1914 by the state legislature, State Fund is California's largest provider of workers' compensation insurance and a vital asset to California businesses. Completely self supporting, State Fund plays a stabilizing role in California's economy by maintaining an open door policy that ensures that all employers have a strong and stable option for their workers' compensation needs.
SOURCE State Fund