AIG Gets $28M Refund From CIGA, Another Carrier Still Seeks Millions
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Tagged in: California Insurance Guarantee Association
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 …
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No CIGA Surcharges for 2021
The California Insurance Guarantee Association continues to make headway in reducing the outstanding balance for the workers’ comp claims it inherited from failed workers’ comp carriers. Its board of directors …
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AB 5 Exemptions, COVID-19 Reporting Bills Approved
The bill signing season is well underway. Governor Gavin Newsom put pen to paper on many bills, including measures increasing the number of exemptions to the Dynamex ABC test and …
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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 …
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California Workers’ Comp Highly Profitable
California’s workers’ comp insurance industry remained highly profitable in 2019, returning a pre-tax underwriting profit of 18% for the second straight year. The profitability percentage is also pre-investment income putting …
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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 …
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Here’s the 2020 Workers’ Comp Assessment Rates
Insured and self-insured employers will be paying more to run the California workers’ comp system next year. The Department of Industrial Relations boosted the assessment rate for the workers’ compensation …
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