California State Fund Offers Credit Extension to Storm Victims

California’s State Compensation Insurance Fund announced it will extend credit to policyholders who have suffered a financial loss or business disruption caused by recent wind and rainstorms that struck the counties of Butte, Glenn, Kings, Marin, Placer, San Francisco, San Mateo, Sacramento, Sutter, Yolo and Yuba counties. The series of three storms began on Jan. 3, 2008, causing extensive flooding, property damage, and electrical outages.

“State Fund policyholders in the many areas affected by the storms range in size from large manufacturing businesses to small retail shops and have been in business for years,” said President Janet Frank. “The storms caused a significant disruption of business and hardship for some of our policyholders. Our offer of credit relief is one way to help them and their businesses return to normal operations.”

Pacific Gas and Electric power company reported that approximately 2 million of its customers had lost power in the storms. Many in outlying areas still lacked power several days after the rough weather had passed.

State Fund will work with employers who are unable to report December 2007 payroll figures or submit payments as a result of the emergency. Dedicated customer service lines have been set up to provide assistance to policyholders whose operations were impacted. Policyholders are encouraged to contact State Fund’s Customer Service Center at 800-388-0902 to make arrangements for payroll reports and payments. The program will be offered to employers through a series of newspaper announcements and mailings to all State Fund policyholders in the affected areas.

Source: SCIF