Today, the California Department of Insurance released an audit of SCIF (State Compensation Insurance Fund) performed by RSM McGladrey Consulting and what a blistering audit it was!

SCIF, the state's largest Workers' Compensation insurer, and the nation's largest, has certainly been running amok. And pigs were feeding at its big trough. It's like a big mama pig and nobody wants to give up his place at the teat!

Huge consulting fees, gross mismanagement and sweetheart deals tied to sham safety groups with close relationships to SCIF directors. There was a lack of management controls in many areas. Expenditures to many vendors were improper. There was a total lack of oversight of fees paid to "safety groups", many of whose members received little or no services in return for administrative fees paid by SCIF. Lack of oversight over SCIF assets.

Read all about it by clicking here!