Workers' compensation: self-insurers: financial audits.

Existing law establishes a workers' compensation system, administered by the Administrative Director of the Division of Workers' Compensation, to compensate an employee for injuries sustained in the course of his or her employment. Existing law requires the administrative director to conduct audits of insurers, self-insured employers, and 3rd-party administrators to ensure that injured workers are promptly and accurately receiving the full measure of compensation they are entitled to receive. This bill would require a group self-insurer to annually file with the director an audited financial statement and an actuarial certification of reserve adequacy, as prescribed. The bill would require that the audited financial statement and actuarial certification be made available to the public, as prescribed.