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California

Hartford Insurance Company Expands Coverage For Healthcare Providers

As the aging population and advances in medical technology fuel the healthcare industry’s rapid expansion, providers face new growth opportunities and specialized protection needs. To help healthcare administrators address these needs, The Hartford Financial Services Group, Inc., has expanded its portfolio of insurance products and services for healthcare providers with tailored coverage designed specifically for healthcare facilities. “Healthcare service providers have a broad range of insurance and risk management needs, from protecting their property, medical equipment and computer records to ensuring patient and staff safety,” said Lisa Morgan, senior vice president of The Hartford’s Middle Market commercial insurance business. The… Read More »Hartford Insurance Company Expands Coverage For Healthcare Providers

California Workers Comp. Insurance Rates Up 3%

California workers compensation insurance rates increased 3% on average during the first six months of 2010 over the same period in 2009, the Workers’ Compensation Insurance Rating Bureau of California said. Written premiums, meanwhile, increased to $5.2 billion during the first six months of the year, a 16% increase over the first six months of 2009, according to the summary of insurer experience released Monday by the WCIRB. The WCIRB’s information is based on data reported by insurers that wrote nearly all of California’s workers comp premiums. While rates climbed 3% during the first six months of 2010, they still… Read More »California Workers Comp. Insurance Rates Up 3%

Insurance Goes Green

Insurers have new incentives to go green, thanks to a new law signed by California Governor. AB 1011 requires the state Department of Insurance to collect data from insurers on their greenhouse gas reductions and green investments as part of their community development investments. The information will be shared on the DOI Web site. Insurance companies that go green also may be eligible for a tax credit for qualified investments in low- and moderate-income urban and rural communities “It is the intent of the Legislature to provide an incentive in the form of California tax credits to attract much needed additional… Read More »Insurance Goes Green

Is Your Insurance Company Double Taxed in California?

Did you pay 3% surplus lines tax and 0.25% filing fee for your policy with a company that is Non-Admitted in California? Well, certainly, you did! Would you like to pay 2.35% section 28 tax? According to a California Court of Appeal decision, surplus line insurers should not be subject to California Constitution Section 28 taxes to the state, since these nonadmitted insurers already pay surplus line premium taxes. The conflict arose when Stephen Silvers and Steven Gold (S&G) filed a complaint, alleging that surplus line insurer Lexington Insurance Co. had failed to pay Section 28 taxes, and sought the court’s… Read More »Is Your Insurance Company Double Taxed in California?

Insurance Cancellation Fees Must Be Disclosed in Calif.

Insurers in California will now be required to disclose cancellation penalties —prior to or concurrent with an application for insurance — thanks to legislation recently signed by Gov. Arnold Schwarzenegger. Previously, the law stated that an insured was entitled to return of his or her premium if the policy is canceled, rejected, surrendered or rescinded. But the new law, AB 2404, which takes effect Jan. 1, 2012, would require that any insurance policy that includes a provision to refund a premium other than on a pro rata basis, including the assessment and cancellation fees, disclose that fact in writing, including… Read More »Insurance Cancellation Fees Must Be Disclosed in Calif.

Insurance for contractors – announcement

In the past we were resistant to write insurance for artisan contractors. We were mostly dealing with small, usually one man, companies, and efforts spent to provide insurance quote most of the time weren’t justified with a bottom line. Today we’re happy to announce “Happy Artisan Contractors” program. Premium starts from $750 to $1000 in California ($450 to $1000 in other states). Excess Liability up to $5,000,000 is also available. Limits 300,000/300,000/300,000 (CA, NV, OK & OR only) 500,000/500,000/500,000 500,000/1,000,000/1,000,000 1,000,000/1,000,000/1,000,000 1,000,000/2,000,000/1,000,000 1,000,000/2,000,000/2,000,000 Artisan contractors who perform new construction in tract home subdivisions of up to 10 homes are acceptable!… Read More »Insurance for contractors – announcement

California Worker’s Compensation Medical Provider Network (MPN) New Requirements Effective October, 2010

In an effort to streamline the notification process and reduce the burden on employers, the Administrative Director of the California Division of Worker’s Compensation (DWC) recently amended regulation relating to MPN’s. The DWC regulates how an employer implements a MPN, requiring them to provide specific notification to their California employees. The purpose of this letter is to alert you to the new requirements and advise you of the steps being taken to inform our customers. The amended regulation becomes effective on October 8, 2010. By that date employers must: Post the updated form DWC-7, Notice to Employees –Injuries Caused by Work… Read More »California Worker’s Compensation Medical Provider Network (MPN) New Requirements Effective October, 2010

California Processes 15.5% Fewer Surplus Line Premiums

According to Surplus Line Association of California (SLA) it has processed $1.9B in premium for the first 6 months of 2010, a decrease of 15.5% compared to the same period in 2009. The total number of policies filed with the SLA from January 1 through June 30, 2010, was 209,545, representing 4% decrease compared to the 2009  – first 6 month policy count. SLA expects it will process $3.8 billion in premium for the year, if the trend continues. Year-to-date, U.S. based insurers wrote 76.4% of the California surplus line premiums, while Lloyd’s, London based insurance tycoon company wrote 17.1%… Read More »California Processes 15.5% Fewer Surplus Line Premiums

Employer’s Basic Workers’ Comp Responsibilities

It’s time for a quick policy checkup. By law you must follow certain procedures for (1) notifying your employees about workers’ compensation and (2) responding to workplace injuries. Check the lists below to make sure you’re in compliance. If you need any of the forms listed here or any other help, contact your company’s Customer Service Center*. ____________________________ *Applicable for California Employers only. Check with your insurance company for law that applies to your State. Required Employee Notices These notices tell employees about their workers’ compensation rights and how to get medical treatment for workplace injuries. • Post the Notice… Read More »Employer’s Basic Workers’ Comp Responsibilities

Illegal Insurance Rescission Prevention in California

California Insurance Commissioner has imposed regulations designed to combat illegal rescissions. The rules take effect on August 18. Currently, health insurers may only rescind policies under very specific, limited circumstances defined by law and regulations. In the past, some insurers have exploited vagueness in these laws to improperly rescind health insurance policies, according to the Department of Insurance. The new regulations clarify the law to protect consumers from these illicit practices and set out specific steps insurers must take before they can legally rescind. All insurers must file revised health history questionnaires that comply with the new regulations and receive… Read More »Illegal Insurance Rescission Prevention in California