All employers in California must have workers’ comp insurance.

California's 2014/15 Alternative Security Program Approved

Department of Industrial Relations Director Christine Baker approved it; the program provides financial guarantees to replace security deposits required to collateralize self-insured worker's compensation liabilities.

California Department of Industrial Relations Director Christine Baker this week approved the implementation of the 2014/15 Alternative Security Program. Operated by the non-profit California Self Insurers' Security Fund within the department, the program provides financial guarantees to replace security deposits required to collateralize self-insured worker's compensation liabilities. It frees $7.54 billion in working capital and gives self-insured California businesses greater financial flexibility, according to DIR.

The participation fee for the guarantee program was also reduced 10 percent from a year ago.

"Self-insurance and the ASP are two innovative ways that California supports businesses and helps them reinvest their capital," said Baker. "With worker's compensation representing a significant expense to businesses, this program benefits both the businesses and the larger California economy."

"Self-insurance offers tremendous advantages and substantial cost savings to California employers," added Jon Wroten, chief of DIR's Office of Self Insurance Plans. "With program improvements and streamlining efforts, it is now possible for a company wanting to enter self-insurance to move from initial application to fully insured in less than two weeks."

California currently has more than 9,850 employers protecting more than 4 million workers – one in every four California workers -- through self-insurance comp plans. All employers in California must have worker's comp insurance.

Download Center

  • Lone Worker Safety Guide

    As organizations digitalize and remote operations become more commonplace, the number of lone workers is on the rise. These employees are at increased risk for unaddressed workplace accidents or emergencies. This guide was created to help employers better understand common lone worker risks and solutions for lone worker risk mitigation and incident prevention.

  • Online Safety Training Buyer's Guide

    Use this handy buyer's guide to learn the basics of selecting online safety training and how to use it at your workplace.

  • COVID Return-to-Work Checklist, Fall 2021

    Use this checklist as an aid to help your organization return to work during the COVID-19 pandemic in a safe and healthy manner.

  • SDS Buyer's Guide

    Learn to make informed decisions while searching for SDS Management Software.

  • Risk Matrix Guide

    Risk matrices come in many different shapes and sizes. Understanding the components of a risk matrix will allow you and your organization to manage risk effectively.

  • Industry Safe

Featured Whitepapers

OH&S Digital Edition

  • OHS Magazine Digital Edition - November December 2021

    November December 2021

    Featuring:

    • GAS DETECTION
      How to Streamline Gas Detector Maintenance
    • OSHA TOP 10
      OSHA's Top 10 Most Frequently Cited Standards for FY 2021
    • PROTECTIVE APPAREL
      How PPE Can Help You Deal with the Harsh Condition of Winter
    • HEARING PROTECTION
      Tackling Hearing Protection in the Workplace
    View This Issue