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July 03, 2015 10:45 PM ET


Company Overview of State Compensation Insurance Fund

Company Overview

State Compensation Insurance Fund provides workers’ compensation insurance to employers in California. The company offers a range of products and services that include accident prevention services; return to work programs; claims services; medical care programs, that include utilization review programs, pharmacy benefit management programs, and medical provider networks; and loss control services. State Compensation Insurance Fund was founded in 1914 and is headquartered in San Francisco, California.

333 Bush Street

8th Floor

San Francisco, CA 94104

United States

Founded in 1914



Key Executives for State Compensation Insurance Fund

Chief Executive Officer and President
Chief Financial Officer and Chief Investment Officer
Chief Operating Officer
President of Claims Operations
Executive Vice President
Compensation as of Fiscal Year 2015.

State Compensation Insurance Fund Key Developments

State Compensation Insurance Fund Selects Peter Guastamachio as Chief Financial Officer

State Compensation Insurance Fund has appointed Peter Guastamachio as its Chief Financial Officer. Guastamachio had been acting CFO since November 2013 and also serves as Chief Investment Officer. As CFO, Guastamachio will direct all of State Fund's financial policies--including financial forecasting, accounting, budgeting, and tax reporting. Guastamachio joined State Fund in 2009 as State Fund's Chief Investment Officer. During his five-year tenure with State Fund, he has stepped in to lead programs outside of his primary duties as investment officer, serving as Chief Information Officer and, with State Fund's government affairs team, worked with the California Department of Insurance and legislators to broaden the organization's investment authority. He has more than 30 years experience in the financial world having served as vice president-assistant portfolio manager for Bank of West and held a variety of positions with Argonaut Insurance. Guastamachio also holds a seat on the Board of Directors for the California Insurance Guarantee Association.

State Compensation Insurance Fund Names Vernon Steiner as New President and CEO, Effective June 9, 2014

The State Compensation Insurance Fund Board of Directors announced it has appointed Vernon Steiner as President and CEO. Steiner joins State Fund from Zenith Insurance Company. As Senior Vice President of Claims, Steiner was responsible for Zenith's national claims operation with significant focus in California. Steiner has been the Senior Vice President of Claims for Zenith Insurance since 2007 where he was responsible for Zenith's national claims operation. He has 24 years of industry experience, most of which has been focused on workers' compensation and casualty business operations. Prior to joining Zenith, he held several leadership positions at CNA Financial and, prior to that, was with AIG for eight years. Steiner's appointment will be effective June 9, 2014 and his contract includes a four-year term.

State Compensation Insurance Fund Appoints Sheryl Chalupa as its New Chairperson of Board of Directors

State Compensation Insurance Fund appointed Sheryl Chalupa as its new chairperson of board of directors. Chalupa succeeds Larry Mulryan who has served on State Fund's Board since 2009 and as Chair for the past three years. Mulryan will remain a member of the Board and chair of the Governance Committee.

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