A Brief History of Workers' Compensation and Self-Insurance
in California

 1913 - California established a workers' compensation system through passage of the Boynton Act. The act covered three main areas: compensation of injured workers, safety for workers, and provisions for a state insurance fund. The act created an independent Industrial Accident Commission to implement the law.

 1914 - State Compensation Insurance Fund, established by the Boynton Act, opens its doors to provide an available market for workers' compensation insurance and be a model for private insurance carriers. State Fund is considered the insurer of 'last resort.' 

 1984 – The California Self-Insurers' Security Fund (CASISF) was established by the California State Legislature to ensure the continuity of workers' compensation benefits of self-insured companies that have defaulted on their workers' compensation obligations – usually due to bankruptcy.

 2003 – The California legislature passes the Alternative Security Program (ASP) into law. The California Self-Insurer's Security Fund ASP allows members to free up their cash or line of credit, allowing them to invest this capital back into their businesses while the ASP assumes responsibility for their security deposit posting requirement. The ASP provides members with a low-cost substitute for collateral with no balance sheet impact.

 2019 – CASISF's 3,500 private self-insured member companies protect more than 2.3 million workers -- 1 in every 8 California workers -- representing a total payroll of nearly $100 billion.  Self-insured private employers in California represent large and midsized private companies and industry groups. 

 The California Self-Insurers' Security Fund (CASISF) has been proudly serving its members for 40 years since its founding on July 6, 1994. We are a member-driven non-profit organization with leadership by a volunteer Board of Trustees representing members serving members. The Security Fund is a key partner supporting California self-insured workers' compensation programs. "We are California Workers' Comp Experts" with a singular focus on self-insurance.