Staffing Company Appeal Focuses On Legality Of Side Agreements
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Tagged in: large deductible
BIG DECISION: Travelers Loses Unfiled Side Agreements Case
“The big takeaway from this is that under Insurance Code section 11737, the Commissioner has the authority to review pretty much anything that affects what the insured pays for insurance,” says attorney Ryan Salsig with the firm Roxborough, Pomerance, Nye & Adreani. The California Insurance Commissioner’s authority to require carriers to file key policy documents …
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Travelers, CDI Heading To Court
Attorneys representing the California Department of Insurance and The Travelers will be in a Los Angeles courtroom next month to continue a nearly four-year-old dispute over what the Department says is the the illegality of the unfiled side agreements Travelers used in its large deductible workers’ comp program. Former Insurance Commissioner Dave Jones issued a …
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Large Deductible Policies Under New Rules
Large deductible polices account for well over one-third of all written workers’ comp premium in California. But it takes just 3.1% of policies to account for all that premium. Carriers selling large deductible workers’ comp policies in California, those with deductibles of $100,000 or more, must abide by new rules that in many cases call …
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Large Deductible Policies Have Worse Results
Insurance carriers writing large deductible workers’ comp policies in California – policies where employers retain at least $100,000 of the liabilities but often times it is in the millions – spend dollars significantly faster on indemnity claims compared to non-deductible policies. This significantly affects employers with deductibles. The question is why and does it relate …
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Travelers’ Unfiled Side Agreements Voided
Insurance Commissioner Dave Jones issued two major decisions – both precedential – in disputes between large deductible policyholders and Travelers (NYSE: TRV). Like in Applied Underwriters’ case, the decisions void the unfiled side agreements the carrier used. The agreements defined how premiums were calculated, introduced a collateral requirement, mandated binding arbitration of disputes and altered …
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Amended Large Deductible Regs Back Out For Comment
The California Department of Insurance is circulating an updated draft of its collateral regulations for large deductible workers’ comp programs. The proposed regulations were updated following an initial round of public comments. The limited changes indicate that the Department will likely meet its goal of having the regulations completed before the end of the year. …
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Carriers Seek To Limit CDI Large Deductible Regulations
California’s move to introduce new collateral requirements for workers’ comp policies with deductible amounts of $100,000 or more generated little written comment from the industry. At CDIs recent hearing no interested parties opted to give testimony in person. But what was submitted in writing mainly seeks to weaken the proposed standards. The California Department of …
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