An audit released today of California's state-created workers' compensation insurer has described an inefficient, costly operation and past board members with conflicts of interest.
The findings announced by California's Department of Insurance concerned the State Compensation Insurance Fund, and revealed what Insurance Commissioner Steve Poizner referred to as "serious structural and operational issues."
The audit revealed "what we expected," Mr. Poizner said of the problems. "Fortunately, we have identified important issues, communicated our recommendations, and we expect that the State Fund will continue to work to make necessary reforms," he added.
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