California Governor Gray Davis signed legislation to raise the assessments on workers’ compensation insurers. The bill, AB 1183, sponsored by Assemblyman Tom Calderon (D-Montebello), will raise the assessment charged to workers’ comp premiums from 1 percent to 2 percent. The additional funds will go toward California’s guarantee fund, which pays for the outstanding claims of insolvent workers’ comp carriers. The Senate voted 27 to 3 in favor of AB 1183 and the Assembly voted 59 to 3 to concur on the amendments. Davis signed the measure on Sept. 12. AB 1183 includes an urgency clause so the bill will take effect immediately.
Topics Workers' Compensation
Was this article valuable?
Here are more articles you may enjoy.
Florida, Louisiana Insurer Safepoint Reveals 97% Revenue Surge in IPO filing 
High-Powered Dads Are Spending Less Time at Work, More on Childcare 
Brown & Brown Wins Temporary Injunction Against Howden 
South Florida Police Officers Sue Actors, Say Details in ‘The Rip’ Are Too Real From This Issue
