California’s State Fund Announces Credit Extensions, Moratorium on Cancellations

California’s State Compensation Insurance Fund announced several steps to support policyholders during the COVID-19 crisis, including a moratorium on policy cancellations and late payment penalties.

State Fund also said it will extend credit to any business negatively impacted by COVID-19 events and offer businesses the ability to adjust their payroll reporting.

Additionally, State Fund is postponing all site visits and has implemented a work-at-home program that is allowing the vast majority of its employees to work remotely.

State Fund is a not for profit provider of workers’ comp and is funded solely by premiums and investment income.