The California Self-Insurers’ Security Fund
Established on July 6, 1984 by the California State Legislature, the Self-Insurers’ Security Fund (referred to simply as the Fund) is a non-profit organization responsible for managing the collective liabilities of workers comp claims arising when former self-insured private companies operating in California become insolvent. The Legislature created the Fund in order to ensure the continuity of workers compensation benefits of self-insured companies that have defaulted on their worker comp obligations – usually due to bankruptcy.
The Security Fund oversees nearly $6.5 billion in open private-sector workers compensation claim liabilities associated with its more than 500 individual member companies and 25 self-insured groups.
Our official mission is: “To provide continuity of workers’ compensation benefits to injured workers of insolvent, private self-insured companies at the lowest overall long-term cost, equitably distributed to the self-insurance community.”