March 25, 2025 – Santa Monica Workers’ Compensation program experienced a 29.5% surge in total liabilities during the 2023-24 fiscal year. Notably, three catastrophic claims drove this sharp increase, accounting for $7.9 million of the $8.2 million total increase.
Significant Increase in Program Liabilities
City Finance Director Oscar Santiago reported that, by June 30, 2024, total program liabilities had increased to $36 million, up from $27.8 million the previous year. However, despite this significant rise, the city’s self-insured retention program liabilities dropped slightly by 0.4% to $24.3 million, marking the lowest level recorded in a decade. Consequently, this decrease reflects improved stability in certain areas of the city’s workers’ compensation framework. Santa Monica Workers’ Compensation
Catastrophic Claims from High-Risk Departments
The report did not specify details about the catastrophic claims. However, it noted that one claim originated from the police department, while the other two came from the fire department. Historically, these departments pose the highest risk for workplace injuries among city employees. Moreover, these sectors continue to contribute disproportionately to the city’s overall workers’ compensation liabilities. Santa Monica Workers’ Compensation
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