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State Insurance Fund Gets New Name
Oklahoma City, OK - On Monday, June 4th, 2001, Governor Frank Keating signed
HB1718 authored by Senator Brad Henry and Representative Jari Askins
approving the proposed name change of the Oklahoma State Insurance Fund
(SIF) to CompSource Oklahoma.
The name change comes shortly after the State Insurance Fund Board
of Managers voted in favor of the suggested name, CompSource Oklahoma,
in a special meeting on May 7th with the tagline "The Source for Workers'
Compensation Insurance". After the vote of the board, it was brought to
legislature where it was passed. The name change is set to become effective
July 1st, 2001.
"There has always been a confusion in our state regarding the State
Insurance Fund because the name didn't project our business appropriately,"
states SIF Chairman of the Board, Richard Allen. "For years we were confused
with others providing health insurance for state workers as well as the
Oklahoma Insurance Department. We now have a name that projects who we are
and what we do."
"We are excited about the name and believe it will eventually ease some
confusion about who we are with the public at large," said State Insurance
Fund Commissioner and Chief Executive Officer Terry McCullar.
Although the name will change, Commissioner McCullar is adamant about
the high quality of service he continues to encourage. "Nothing but the
name has changed. We will still continue to provide Oklahoma with the best
service at the lowest possible price for all Oklahoman's workers' compensation
needs."
The formerly named Oklahoma State Insurance Fund is the largest workers'
compensation insurance carrier in the state, writing approximately 30 percent
of all workers' compensation coverage in Oklahoma.
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