Alternative Security Program News

The board of the California Self-Insurers’ Security Fund has approved the 2019/20 Alternative Security Program. The ASP provides a financial backstop to replace security deposits required to collateralize self-insured workers’ compensation liabilities. It reportedly has freed $6.6 billion in working …

Christine Baker, director of the Department of Industrial Relations, on Wednesday approved the implementation of the 2013/14 Alternative Security Program, which Baker said frees up $7.7 billion in capital that provides self-insured businesses in the state “greater financial flexibility.” According …