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.
Honda’s Insurance Agency Operations Stall, Services ‘Paused’ 
Hellman & Friedman’s Hub International Seeks $3 Billion in IPO 
El Niño Likely Strongest in 75 Years, US Forecasters Say 
20 Years After Hurricane Katrina: Are Insurers Ready for a Different $100B Disaster? From This Issue
