The State Compensation Insurance Fund announced that it will declare an approximate $149 million dividend to qualifying policyholders with policies that took effect between January 1 and December 31, 2024. This dividend equals approximately 15% of the estimated annual premium reported during that period.

In 2024, SCIF reported approximately $993 million in estimated annual premium (EAP) and netted $572 million in investment income.

“We’re proud to be able to return money to our policyholders for the sixth consecutive year,” said SCIF President and CEO Vern Steiner. “California business owners and entrepreneurs are working hard to keep up with the rising costs of doing business. So we’re working hard to provide them with as much value as possible.”

Over the past six years, we’ve declared more than $630 million in dividends.

Payment of the 2024 dividend for eligible policyholders is dependent on timing of final audit and payment of final bill and will occur no sooner than 18 months after policy inception. Policyholders will receive a Policyholder Dividend Statement that explains whether they have been deemed eligible for a dividend. Eligible policyholders will receive a dividend check with the Policyholder Dividend Statement.

For more information about the 2024 dividend, please see the SCIF’s answer to Frequently Asked Questions.