Members of self-insured groups (SIGs) are jointly and severally liable for each other’s losses, but a California Court of Appeal says the individual liability applies only to losses from years in which a member was actively covered by the group. The court rejected a self-insured group administrator’s attempt to assess former members of the failed …
California’s Self-Insurers’ Security Fund’s (SISF) $40 million lawsuit for joint and several liability against hundreds of former members of a failed healthcare industry self-insured group (SIG) has been delayed. A court has forced it to obtain new counsel. The case, which is over three years old, is being stayed to give SISF time to find …
Nearly three dozen employers that were members of a failed self-insurance group (SIG) in New York State are taking their brokers to court seeking damages that could go into the tens of millions of dollars. The group’s workers’ comp liabilities at one point were underfunded to the tune of $220 million and former members still …
Sacramento Superior Court Judge David Brown has granted the motion for a good faith settlement of claims against members of the failed Contractors Access Program Self-Insured Group (For previous coverage …
Another California workers’ comp self-insured group (SIG) faces financial demons from its past. Both current and former members of the Healthcare Industry Self-Insurance Program (HISIP) of California group are being asked to cover more than $3 million in deficits from two recent program years. Group members are jointly and severally liable for one another’s claims and …
A Sacramento Superior Court is giving its preliminary approval to the planned dissolution of the Contractors Access Program (CAP). But one former director questions whether the proposed settlement lets some players off the hook, and is demanding his day in court. The issue will be argued in court next month, but those overseeing the failed …
The Contractors Access Program (CAP) is moving forward in court to resolve in as equitable a manner as possible the $38 million in outstanding workers’ comp liabilities owed by its …
The state’s conservatorship of workers’ comp carrier Majestic Insurance Company is proving to be a short one. Insurance Commissioner Dave Jones announced that the California Department of Insurance (CDI) successfully completed transactions to transfer Majestic’s liabilities and business obligations to AmTrust Financial Services Inc. (Nasdaq: AFSI) under its rehabilitation plan. The carrier was snatched out …