§ 1063.3. — 1063.3. (Amended by Stats. 2005, Ch. 395, Sec. 2.)

California § 1063.3.

• Jurisdiction: California
• Code INS: Insurance Code - INS
• Div. 1.: DIVISION 1. GENERAL RULES GOVERNING INSURANCE
• Part 2.: PART 2. THE BUSINESS OF INSURANCE
• Ch. 1.: CHAPTER 1. General Regulations
• Art. 14.2.: ARTICLE 14.2. California Insurance Guarantee Association

Text

To aid in the detection and prevention of member insurer insolvencies:
(a)
The board may, upon majority vote, make recommendations to the commissioner on matters pertaining to regulation for solvency.
(b)
The board may prepare a report on the history and causes of any member insurer insolvency in which the association was obligated to pay covered claims, based on the information available to the association, and submit that report along with any recommendations resulting therefrom to the commissioner.
(c)
The board may request the Self-Insurers’ Security Fund to prepare, and the Self-Insurers’ Security Fund may provide to the board, a report identifying the aggregate amount of liability, including the estimated exposure for every insurance carrier admitted to transact workers’ compensation insurance in this state, under all specific excess workers’ compensation policies in existence for a given period in this state as reported by the private self-insured employers to the Director of Industrial Relations in the annual reports submitted pursuant to Section 3702.2 of the Labor Code.

Legislative History

Amended by Stats. 2005, Ch. 395, Sec. 2. Effective January 1, 2006.