Workers’ Comp and General Liability Claims Headed To CIGA

New workers’ compensation and general liability claims are soon to hit California Insurance Guarantee Association. The liquidation is the first involving workers’ comp to hit CIGA’s books in five years.  CIGA officials say it is well within their capacity to handle the claims without any additional burden or surcharges on California employers. The Pennsylvania Insurance … Read More »

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CIGA’s Claims Handling Process Is Lowering Expenses

The California Insurance Guarantee Association continues to make progress in closing out workers’ comp claims and reducing future liabilities. A restructured claim handling process is also lowering its expenses in real-time. The association’s board of directors heard that CIGA nearly reached its full-year claims closure goal by the fiscal year’s halfway point and that its … Read More »

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CIGA Actuaries Say Agency’s Reserves Remain Strong

California’s backstop for the insurance industry is sitting in solid financial shape despite the economic downturn’s negative impact on interest rates. Executive Director Brad Roeber and his team at the California Insurance Guarantee Association report that even under a pessimistic “worst-case” workers’ comp claims cost scenario, the agency has enough cash and assets to pay … Read More »

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Legislative Agenda Includes Full Card Of AB 5 Exemption Bills

Legislators rushed to beat last week’s deadline for bill introductions and submitted dozens of measures that could impact California’s workers’ comp system. Over two dozen bills seek to carve out new exemptions to last year’s AB 5 legislation. AB 5 is the highly controversial legislation that codified and enlarged the Dynamex decision’s ABC test for … Read More »

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CIGA’s Financial Outlook Continues To Improve

The California Insurance Guarantee Association (CIGA) is reporting more positive news on its financial outlook. The agency says an updated actuarial analysis trimmed one critical financial estimate by $290 million. The news follows a previous $773 million write-down that allowed CIGA’s board of directors for the first time in decades to halt the practice of … Read More »

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No Assessment, No Reinsurance For CIGA

Finances at the California Insurance Guarantee Association continue to improve to the point that the association is not issuing an assessment for the second year in a row and is – at least for now – abandoning plans to purchase reinsurance protection against future assessments. Association officials indicated that more good news could be coming … Read More »

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CIGA Leadership Adapting To Changing Claims Make-Up

The California Insurance Guarantee Association is the financial backstop for insurers in the state. Workers’ comp claims have dominated its operations for many years. Times are changing, however, and the association’s new leadership is making plans to address this emerging reality. Presiding over his first board meeting since former executive director Wayne Wilson retired, Brad … Read More »

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