The State Compensation Insurance Fund, the quasi-public San Francisco-based workers’ compensation insurer that has long held the lion’s share of the state’s comp market, said Friday it has filed for a 15 percent mid-year rate increase.

The new rates will apply to new and renewed policies effective on or after July 1, officials said. State Fund has seen its premium volume dip from $2.3 billion in 2007 to just under $1.7 billion last year, and its market share tumble from about 26 percent to less than 23 percent.

In asking for an increase lower than the 23.7 percent July 1 increase recommended by the Workers’ Compensation Insurance Rating Bureau, along with several other comp insurers, State Fund may have reduced pressure on Insurance Commissioner Steve Poizner to clamp down on rate increases when he makes his own recommendations next month.

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