What is the purpose of the State Insurance Fund regarding workers’ compensation coverage?

The State Insurance Fund plays a crucial role in providing a market for workers' compensation coverage to employers. By offering insurance options, the Fund helps ensure that employers have access to the necessary coverage to comply with state regulations regarding workers' compensation. This is especially important as not all employers may find adequate coverage in the private market, or they may face higher premiums due to high risk. The Fund acts as a safety net, allowing employers to secure coverage at competitive rates while also fulfilling their legal obligations to protect employees who may be injured on the job.

Other options involve important functions but don’t directly represent the State Insurance Fund's primary purpose. For instance, regulating claim disputes and issuing fines could pertain to other regulatory bodies, and conducting workplace safety audits typically falls under the responsibilities of agencies focused specifically on occupational health and safety rather than insurance coverage.