2004
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California DOI Insurance Notices › 2004
Text
STATE OF CALIFORNIA
JOHN GARAMENDI, Insurance Commissioner
DEPARTMENT OF INSURANCE
Legal Division, Office of the Commissioner
45 Fremont Street, 23rd Floor
San Francisco, CA 94105
Gary M. Cohen
General Counsel
TEL: 415-538-4375
FAX: 415-904-5889
E-Mail: coheng@insurance.ca.gov
www.insurance.ca.gov
Date:
August 12, 2004
NOTICE
To:
ALL ADMITTED INSURERS LICENSED FOR CLASS 9 WORKER’S
COMPENSATION INSURANCE
Subject:
REQUIRED MEETING TO PRESENT NEW WORKER’S
COMPENSATION BUSINESS PLANS
Pursuant to the authority set forth in Insurance Code section 12921.5, the Insurance
Commissioner directs that any insurer admitted for Class 9 worker’s compensation insurance that
anticipates commencing writing worker’s compensation insurance in California contact the
Insurance Department’s Financial Analysis Division (“FAD”) in Los Angeles prior thereto. The
insurer should arrange a meeting with appropriate staff of the department to discuss the insurer’s
proposed entry or re-entry into the worker’s compensation market. Similarly, any insurer
admitted for Class 9 worker’s compensation insurance that anticipates writing Professional
Employer Organizations (PEOs) or employers engaged in employee leasing should also contact
FAD in Los Angeles and arrange a meeting prior to writing such worker’s compensation
business.
Insurance companies subject to this notice should prepare for the meeting by developing a
business plan that includes three year financial projections with detailed assumptions using
optimistic and pessimistic scenarios. Company representatives attending the meeting should be
sufficiently knowledgeable to answer questions posed by staff.
Contact Robert Loo, Financial Analysis Division at (213)-346-6389 to arrange a meeting with
the Department or if you have any questions regarding this notice.
Gary Cohen
Deputy Commissioner and General Counsel
Legal Division
THIS NOTICE IS BEING PLACED ON THE CDI WEBSITE AND IS BEING SENT VIA
UNITED STATES MAIL
eting should be
sufficiently knowledgeable to answer questions posed by staff.
Contact Robert Loo, Financial Analysis Division at (213)-346-6389 to arrange a meeting with
the Department or if you have any questions regarding this notice.
Gary Cohen
Deputy Commissioner and General Counsel
Legal Division
THIS NOTICE IS BEING PLACED ON THE CDI WEBSITE AND IS BEING SENT VIA
UNITED STATES MAIL.
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This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.