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April 19, 2024
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State Compensation Insurance Fund announced on February 4th 2005 that after three years of leading California’s largest workers’ compensation insurer, President Dianne Oki will retire in the coming month after a 37-year career at State Fund.

“I am extremely proud of what State Fund accomplished during my tenure,” said Oki, “especially the way we managed the dramatic changes in our industry over the last few years. In an incredibly short period of time, the workers’ compensation market underwent a significant shakeout and consolidation, making State Fund the largest insurer in the state, with a market share of more than 50 percent. Our industry also saw major legislative and regulatory change during that period. I am also pleased to bring my career to a close assured that State Fund is financially sound with solid reserves and surplus that has doubled within the last two years.

“It has been a significant challenge but a fulfilling career opportunity. The impending implementation of the landmark reform legislation passed by the Legislature and signed into law by Governor Schwarzenegger last year provides me with an opportunity to pass the reins to a new leader of the Fund, as it begins another significant and lengthy period of change,” Oki said.

“The Board is very grateful for Dianne’s leadership of the Fund through what has been a tumultuous period in the workers’ compensation market,” said State Compensation Insurance Fund Board Chair Jeanne Cain. “We appreciate her hard work during her tenure at the Fund. As the Fund prepares for the next phase in California’s workers’ compensation industry, we will build upon those efforts and continue to strive to provide strong customer service and cost-effective insurance to California’s workers and employers alike.”

A consultant has been hired to lead the search for a new president.