The State Compensation Insurance Fund, or SCIF, has been hit with a class action lawsuit against the fund and some of its top executives. SCIF is the California Workers' Compensation Fund, and it competes against private insurance companies to provide Workers Comp coverage to employers in California. SCIF is the largest provider of such coverage in California.
The lawsuit seeks $25 million in compensatory damages and $50 million in punitive damages, and alleges that there were improper payments made by SCIF to some safety groups operated by former board members of SCIF.
The lead plaintiff in the action is Acro Constructers, Inc. of Burbank, and the law firm handling the suit is Pearson, Simon, Soter, Warshaw & Penny, LLP. in Sherman Oaks. It is reported that potentially there could be 250,000 members of the class action among California employers.
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