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 heard earlier this month that it is still on track to pay claims without any need for additional assessments on California employers. “This is a … Read More »

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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 a bill requiring employers to report workplace cases of COVID-19 to local and state public health officials. In addition to these measures, brokers should take … 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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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 the profits into the 20% of premium range. However, expectations for 2020 are unclear as officials predict a 20% decline in written premium for the … 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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Exclusive Remedy Doesn’t Apply In Excess Insurance Spat, Court Says

The California Insurance Guarantee Association (CIGA) will get a second chance to convince a superior court judge that an injured worker suffered a cumulative injury rather than a specific one as the Workers’ Compensation Appeals Board held. The distinction is important as CIGA is currently on the hook for the costs that a failed excess … Read More »

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