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Finance Department Projects Millions in Savings From Large-Deductible Rules
06/25/2018
passed on to the California Insurance Guarantee Association.
Margolis said mitigating the risk of insurer insolvencies would shield CIGA from incurring liability for some claims and reduce assessments the guaranty association charges to carriers.
The Department of Insurance has reviewed data for
Category: News
CIGA Can't Be Forced to Use Lumbermens Deposit to Pay Expenses
06/05/2018
appellate court said in its decision that California law unequivocally precludes CIGA from using security deposits for basic costs such as rent utilities or overhead often called unallocated loss adjustment expenses.
The decision addresses only CIGAs objection but guaranty associations in more than a
Category: News
CIGA Board, Committees Holding Meetings in Southland
05/01/2018
The California Insurance Guarantee Associations Board of Governors and its investment and audit committees will meet over two days in Los Angele
Category: News
CWCI Report Identifies Hurdles on Road to Single-Payer Plan
03/06/2018
be reduced premiums as employers are required only to purchase insurance for indemnity benefits. While the Department of Industrial Relations can increase assessments if it needs more money because of falling premiums CIGA doesnt have that same luxury he said.
CWCI's Spotlight Report
Category: News
NCIGF Sees Progress on Large-Deductible Issue
01/16/2018
then the number has ballooned to about 2700 CIGA Executive Director Wayne Wilson said on Monday.
Claims keep coming in Wilson said.
CastlePoints liquidation was followed by that of Millers First Insurance Co. which was placed into liquidation on Aug. 30 by order of the Circuit Court of
Category: News
Governor Signs CIGA Reinsurance Bill
09/26/2017
Insurance Committee to give CIGA more flexibility when purchasing reinsurance.
Current law requires CIGA to purchase reinsurance from a company that is a member the association. Proponents of SB 430 said more reinsurers are not members of CIGA.
The bill will allow the association to purchase
Category: News
Legislature Passes Bill to Loosen CIGA Reinsurance Limitations
09/06/2017
the California Insurance Guarantee Association to purchase reinsurance from any reinsurer licensed in California. The insurance commissioner would have to approve any reinsurance transaction involving CIGA.
Current law allows CIGA to purchase reinsurance only from a company that is a member of the
Category: News
Three Comp Bills Up for Final Vote in Assembly
08/28/2017
for a final vote in the Assembly.
The Assembly Appropriations Committee on Wednesday voted unanimously to pass the three bills allowing them to move forward for a third and final vote in the lower chamber.
Senate Bill 430 by the Senate Insurance Committee would allow CIGA to purchase
Category: News
CIGA Boards Meeting in August
07/31/2017
The California Insurance Guarantee Associations Audit Committee Finance and Investment Committee and board of governors will meet in San Francisc
Category: News
CIGA Owes Coverage for Claims Against Risk Pool's Defunct Excess Insurer
07/19/2017
unsuccessful in its pursuit of payment for the claims from the liquidation of Protectives assets CSAC turned to the California Insurance Guaranty Association for relief.
CIGA reimbursed CSAC for approximately 144000 in benefits on one of the claims under the Protective policy but it refused to pay
Category: News
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