SACRAMENTO, March 29 (UPI) -- California lawmakers reportedly made some progress in talks Sunday night aimed at producing legislation overhauling the state's workers' compensation system.
No deal was reached although the Los Angeles Times said Monday that a number of financial requirements for the state-run State Compensation Insurance Fund could be removed, which would conceivably allow the huge non-profit fund to make its own market-moving premium reductions.
Since the SCIF is the largest workers' compensation provider, lawmakers believe that private companies would have to lower their premiums as well.
Workers' compensation costs in California are well above the national average while its benefits are not. Gov. Arnold Schwarzenegger has made meaningful reform a top priority since soaring premiums have been blamed for forcing companies to move out of the state.
