California Insurance Code

§ 1063.5

INS § 1063.5 Effective Jan 1, 2023Div. 1 · Part 2 · Ch. 1 · Art. 14.2

Statute text

(a)(1) To the extent necessary to secure funds for the association for payment of the administrative expenses of the association, covered claims of insolvent insurers, and for payment of reasonable costs of adjusting the claims, the association shall collect premium payments from its member insurers sufficient to discharge its obligations.

(2)The association shall allocate its claim payments and costs, incurred or estimated to be incurred, to one or more of the following categories:

(A)Workers’ compensation claims.

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Legislative history

Amended by Stats. 2022, Ch. 408, Sec. 3. (AB 2154) Effective January 1, 2023.