"State Fund has made significant progress this year by improving efficiency and establishing a new rate structure to provide fairly-priced workers' compensation insurance," Mulryan said.
"We are committed to being a competitive workers' compensation insurance provider that brings value to California employers," he added. "Part of that value is the ability to return funds to our policyholders in the form of a dividend."
This action brings total dividends declared since 2011 to $250 million. Since its inception, State Fund has paid more than $5 billion in dividends to policyholders, a record unparalleled among all California workers' compensation insurance carriers, Mulryan said.
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