OSIP Allowed PG&E To Underfund Bonds
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Tagged in: self-insured
Public Self-Insureds Push Back On OSIP Regulations
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Comp Costs Up At Self-Insured Public Agencies
California taxpayers in cities and counties that self-insure their workers’ comp will have to pay more to cover workers’ comp benefits for injured government employees. The latest data shows that future liabilities are up to $8.5 billion and the outflow of cash is increasing. Severity is also up sharply. But public agencies’ workers’ comp costs …
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Court Orders Review Of Employer’s Self-Insured Status
The Second District Court of Appeal says the Workers’ Compensation Act’s exclusivity provision does not automatically block a worker’s lawsuit against her employer and the employer’s workers’ comp claim adjuster when the case alleged the employer did not have workers’ comp coverage. The case is being sent back to the trial court for a ruling …
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Self-Insureds: Uptick In Claims, Lower Costs
California’s private stand-alone self-insured employers spent nearly $1.38 billion on workers’ comp indemnity benefits and medical care last year – a sharp 2% decline from the $1.41 billion they spent in 2016. The decrease in outlays came in spite of a small uptick in the number of cases reported from 78,404 in 2016 to 79,655 …
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Shake Up In Excess Workers’ Comp Markets
Safety National Casualty Corp. remained the major player in California’s excess workers’ comp market last year with just under $90 million in written premium, but behind it the market was turned upside down. AmTrust tumbled ten places in the annual rankings as over $50 million in excess premium moved to other carriers amid the company’s …
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Self-Insureds’ Liability Reporting Improves
Claims administrators for California employers that self-insure their workers’ compensation liabilities are doing a better job reporting their estimated future costs on workers’ comp claims, but state data show they still have room for improvement. Auditors from the Office of Self-Insurance Plans opine that administrators failed to report nearly $120 million in estimated future liabilities …
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Public Self-Insured’s Spending Up Slightly
Public employers that self-insure their workers’ comp liabilities spent slightly more in the 2015/16 fiscal with the total increase amounting to less than 1% overall. However, with the total spend of more than $2.1 billion, the increase amounts to an additional $166 million in taxpayer dollars going to workers comp costs. Overall, California’s local taxpayers …
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