reglab/statecodes huggingface dataset:
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 2 - Rates › Section 11820.

11820. Subject to the provisions of Article 2 (commencing with Section 11730) of Chapter 3, the board of directors shall establish the rates to be charged by the State Compensation Insurance Fund for insurance issued by it. These rates shall be fixed with due regard to the physical hazards of each industry, occupation, or employment.
(Amended by Stats. 2002, Ch. 6, Sec. 14. Effective January 1, 2003.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 2 - Rates › Section 11821.

11821. Within each class of business insured such rates shall be fixed, so far as practicable, in accordance with the following elements:
(a) Bodily risk or safety, or other hazard of the plant, premises or work of each insured employer.
(b) The manner in which the work is conducted.
(c) A reasonable regard for the accident experience and history of each such insured.
(d) A reasonable regard for the insured’s means and methods of caring for injured persons.
Such rates shall take no account of the extent to which the employees in any particular establishment have or have not persons dependent upon them for support.
(Enacted by Stats. 1935, Ch. 145.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 2 - Rates › Section 11822.

11822. The rates fixed by the board of directors shall be that percentage of the payroll of any employer which, in the long run and on the average, will produce a sufficient sum, when invested in a way as to realize the maximum return consistent with safe and prudent management practices:
(a) To carry all claims to maturity. The rates shall be based upon the “reserve” and not upon the “assessment” plan.
(b) To meet the reasonable expenses of conducting the business of the fund.
(c) To produce a reasonable surplus to cover the catastrophe hazard.
(Amended by Stats. 2002, Ch. 6, Sec. 15. Effective January 1, 2003.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 3 - Policies › Section 11840.

11840. The insurance contracts or policies of the State Compensation Insurance Fund may be either limited or unlimited. The insurance contracts or policies may be issued for like periods as are allowed by law to other workers’ compensation insurers or, in the form of stamps or tickets or otherwise, for one month, for any number of months less than one year, for one day, for any number of days less than one month or during the performance of any particular work, job or contract. The rates charged shall be proportionately greater for a shorter than for a longer period and a minimum premium charge shall be fixed in accordance with a reasonable rate for insuring one person for one day.
(Amended by Stats. 1981, Ch. 714, Sec. 308.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 3 - Policies › Section 11841.

11841. Nothing in this chapter shall prevent:
(a) Any applicant for insurance from being covered temporarily until the application is finally acted upon.
(b) An insured from surrendering any policy at any time and having returned to him the difference between the premium paid and the premium at the customary short term for the shorter period which such policy has already run.
(Enacted by Stats. 1935, Ch. 145.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 3 - Policies › Section 11843.

11843. The State Compensation Insurance Fund may issue policies including, with their employees, employers who perform labor incidental to their occupations, and including also members of the families of such employers engaged in the same occupation.
(Enacted by Stats. 1935, Ch. 145.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 3 - Policies › Section 11844.

11844. Such policies covering employers shall insure to such employers and working members of their families the same compensations provided for their employees, and at the same rates.
(Enacted by Stats. 1935, Ch. 145.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 3 - Policies › Section 11845.

11845. The estimations of the wage values, respectively, of such insured employers and members of their families shall be reasonable and shall be separately stated in and added to the valuation of the pay rolls upon which their premium is computed.
(Enacted by Stats. 1935, Ch. 145.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 3 - Policies › Section 11846.

11846. The policies may likewise be sold to self-employing persons and to casual employees. The insureds, for the purpose of the insurance, shall be deemed to be employees within the meaning of the workers’ compensation laws.
(Amended by Stats. 1981, Ch. 714, Sec. 309.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 4 - Reports and Statements › Section 11860.

11860. Each quarter the president of the State Compensation Insurance Fund shall make a report to the Governor of the business done by the State Compensation Insurance Fund during the previous quarter and a statement of the fund’s resources and liabilities at the close of that previous quarter. The State Compensation Insurance Fund shall, at its own expense, hire a recognized firm of certified public accountants to audit annually the books and records of the State Compensation Insurance Fund and cause an abstract summary thereof to be published one or more times in at least two newspapers of general circulation in the state. The president of the fund shall additionally provide the commissioner with all reports required by law to be made to him or her by other insurers.
(Amended by Stats. 2002, Ch. 6, Sec. 17. Effective January 1, 2003.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 5 - Coverage of Public Employers › Section 11870.

11870. The state, any agency, department, division, commission, board, bureau, officer or other authority thereof, and each county, city and county, city, school district, irrigation district, any other district established by law, or other public corporation or quasi public corporation within the state, including any public utility operated by a private corporation may insure against its liability for compensation with the State Compensation Insurance Fund. Where the state or any agency, department, division, commission, board, bureau, officer or authority thereof is the insured, the premium for that insurance shall be a proper charge against any moneys appropriated for the support of or expenditure by the insured, except that in the case of an insured supported by or authorized to expend moneys appropriated out of more than one fund, the insured, with the approval of the Director of Finance, may determine the proportion of the premium to be paid out of each fund. In that case the insured, with the approval of the Director of Finance, may pay the entire premium out of any of those funds and thereafter the funds used for payment shall be reimbursed in proper proportion out of the other funds. In case a county, city and county, city, school district, irrigation district, or other district established by law, or other public corporation or quasi public corporation within the state is the insured, the premium therefor shall be a proper charge against the general fund of the insured.
(Amended by Stats. 1994, Ch. 373, Sec. 1. Effective January 1, 1995.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 5 - Coverage of Public Employers › Section 11871.

11871. The State Compensation Insurance Fund may enter into a master agreement with the Department of Human Resources to render services in the adjustment and disposition of claims for workers’ compensation to any state agencies, including any officer, department, division, bureau, commission, board or authority, not insured with the fund.
The master agreement shall provide for rendition of services at a uniform rate to all agencies, except that the rate for the Department of the California Highway Patrol may be fixed independently of the uniform rate.
The fund may, in accordance with the agreement, adjust and dispose of claims for workers’ compensation made by an officer or employee of any state agency not insured with the fund.
The fund may make all expenditures, including payment to claimants for medical care or for adjustment or settlement of claims, necessary to the adjustment and final disposition of claims. The agreement shall provide that the state agency whose officer or employee is a claimant shall reimburse the fund for the expenditures and for the actual cost of services rendered.
The fund may in its own name, or in the name of the state agency for which the services are performed, do any and all things necessary to recover on behalf of the state agency for which it renders service any and all amounts which an employer might recover from third persons under Chapter 5 (commencing with Section 3850) of Part 1 of Division 4 of the Labor Code, or which an insurer might recover pursuant to Section 11662 including the right to commence and prosecute actions, to file, pursuant to Chapter 5 (commencing with Section 3850) of Part 1 of Division 4 of the Labor Code, liens for whatever sums would be recoverable by suit against a third person, to intervene in other court proceedings, and to compromise claims and actions before or after commencement of suit or after entry of judgment when in the opinion of the fund full collection cannot be enforced.
(Amended by Stats. 2012, Ch. 665, Sec. 173. (SB 1308) Effective January 1, 2013.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 5 - Coverage of Public Employers › Section 11872.

11872. The fund may annually enter into agreements with state agencies for service to be rendered to the fund. These state agencies include, but shall not be limited to: the Department of Finance, Department of General Services, State Personnel Board, and the Public Employees’ Retirement System. If these agencies and the fund cannot agree upon the cost of services provided by the agreements, the Department of General Services shall be requested to arrive at an equitable settlement.
(Amended by Stats. 2016, Ch. 31, Sec. 177. (SB 836) Effective June 27, 2016.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 5 - Coverage of Public Employers › Section 11873.

11873. (a) Except as provided by subdivision (b), the fund shall not be subject to the provisions of the Government Code made applicable to state agencies generally or collectively, unless the section specifically names the fund as an agency to which the provision applies.
(b) The fund shall be subject to the provisions of Chapter 10.3 (commencing with Section 3512) of Division 4 of Title 1 of, Division 10 (commencing with Section 7920.000) of Title 1 of, Chapter 6.5 (commencing with Section 8543) of Division 1 of Title 2 of, Article 9 (commencing with Section 11120) of Chapter 1 of Part 1 of Division 3 of Title 2 of, the Government Code, and Division 5 (commencing with Section 18000) of Title 2 of the Government Code, with the exception of all of the following provisions of that division:
(1) Article 1 (commencing with Section 19820) and Article 2 (commencing with Section 19823) of Chapter 2 of Part 2.6 of Division 5.
(2) Sections 19849.2, 19849.3, 19849.4, and 19849.5.
(3) Chapter 4.5 (commencing with Section 19993.1) of Part 2.6 of Division 5.
(c) Except as provided in subdivisions (d) and (e) for the period from July 1, 2012, to June 30, 2013, inclusive, and for the period from July 1, 2020, to June 30, 2021, inclusive, and notwithstanding any provision of the Government Code or any other provision of law, the positions funded by the State Compensation Insurance Fund are exempt from any hiring freezes and staff cutbacks otherwise required by law. This subdivision is declaratory of existing law.
(d) Notwithstanding any other law, employees of the fund shall, without limitation, be subject to any and all reductions in state employee compensation imposed by the Legislature on other state employees for the period from July 1, 2012, to June 30, 2013, inclusive, and for the period from July 1, 2020, to June 30, 2021, inclusive, regardless of the means adopted to effect those reductions.
(e) With the exception of the reductions authorized in subdivision (d), if any provision of this section, or any practice or procedure adopted pursuant to this section, is in conflict with the provisions of a memorandum of understanding reached pursuant to Section 3517.5 of the Government Code, the memorandum of understanding shall be controlling without further legislative action, except that if the provisions of a memorandum of understanding require the expenditure of funds, the provisions shall not become effective unless approved by the Legislature in the annual Budget Act.
(Amended by Stats. 2021, Ch. 615, Sec. 315. (AB 474) Effective January 1, 2022. Operative January 1, 2023, pursuant to Sec. 463 of Stats. 2021, Ch. 615.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 5 - Coverage of Public Employers › Section 11874.

11874. On the effective date of this act the Controller shall draw his or her warrant in favor of the State Compensation Insurance Fund for the total amount of the funds in the custody of the Treasurer belonging to the State Compensation Insurance Fund, and the Treasurer shall pay that warrant.
(Amended by Stats. 2011, Ch. 426, Sec. 11. (SB 712) Effective January 1, 2012.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 6 - Penalties › Section 11880.

11880. (a) It is unlawful to make or cause to be made any knowingly false or fraudulent statement, whether made orally or in writing, of any fact material to the determination of the premium, rate, or cost of any policy of workers’ compensation insurance issued or administered by the State Compensation Insurance Fund for the purpose of reducing the premium, rate, or cost of the insurance. Any person convicted of violating this subdivision shall be punished by imprisonment in a county jail for one year, or pursuant to subdivision (h) of Section 1170 of the Penal Code for two, three, or five years, or by a fine not exceeding fifty thousand dollars ($50,000), or double the value of the fraud, whichever is greater, or by both that imprisonment and fine.
(b) Any person who violates subdivision (a) and who has a prior felony conviction of the offense set forth in that subdivision shall receive a two-year enhancement for each prior conviction in addition to the sentence provided in subdivision (a). The existence of any fact that would subject a person to a penalty enhancement shall be alleged in the information or indictment and either admitted by the defendant in open court, or found to be true by the jury trying the issue of guilt or by the court where guilt is established by plea of guilty or nolo contendere or by trial by the court sitting without a jury.
(Amended by Stats. 2011, Ch. 15, Sec. 218. (AB 109) Effective April 4, 2011. Operative October 1, 2011, by Sec. 636 of Ch. 15, as amended by Stats. 2011, Ch. 39, Sec. 68.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 6 - Penalties › Section 11881.

11881. Whenever in Chapter 4, Part 3, Division 2 of the Insurance Code the term “State Industrial Accident Commission” or “Industrial Accident Commission” or “commission” or “director” or similar designation occurs, it means the Board of Directors of the State Compensation Insurance Fund except when such meaning is inconsistent with the intent and context of said chapter.
(Added by Stats. 1945, Ch. 1431.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 7 - Transfer of Ownership › Section 11885.3.

11885.3. In order to accomplish the purpose of this article, the State Compensation Insurance Fund and its board of directors shall participate fully in good faith with the Director of Finance, and the Director of Finance shall act in good faith in carrying out the duties prescribed by this article.
(Added by Stats. 2009, 4th Ex. Sess., Ch. 12, Sec. 21. Effective July 28, 2009.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 7 - Transfer of Ownership › Section 11885.5.

11885.5. Notwithstanding any other law, the approval of neither the Attorney General, nor the Insurance Commissioner, nor the Director of General Services is required for execution and implementation of the sale or other disposition of the assets and liabilities of the State Compensation Insurance Fund or any other agreement authorized by this article.
(Added by Stats. 2009, 4th Ex. Sess., Ch. 12, Sec. 21. Effective July 28, 2009.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 7 - Transfer of Ownership › Section 11885.7.

11885.7. (a) The Director of Finance shall deposit all proceeds of any sale of, or any funds achieved through any other disposition of, the State Compensation Insurance Fund’s workers’ compensation insurance assets and liabilities under this article, less any costs related to that transaction, into the General Fund.
(b) The proceeds of any sale of, or any funds achieved through any other disposition of, the State Compensation Insurance Fund’s workers’ compensation insurance assets and liabilities are not “proceeds of taxes” as that term is used in subdivision (c) of Section 8 of Article XIII B of the California Constitution. The disbursement of these proceeds is not subject to the limitations imposed by that article.
(Added by Stats. 2009, 4th Ex. Sess., Ch. 12, Sec. 21. Effective July 28, 2009.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 7 - Transfer of Ownership › Section 11885.9.

11885.9. (a) Notwithstanding any other law, the Director of Finance is authorized to enter into agreements with firms or individuals to act as advisers to the state in the transactions contemplated by this article. Section 14838 of the Government Code and Article 4 (commencing with Section 10335) of Chapter 2 of Part 2 of Division 2 of the Public Contract Code do not apply to any agreement entered into by the director with advisers pursuant to this section.
(b) Notwithstanding any other law, the Director of Finance is also authorized to enter into legal services agreements to obtain specialized legal advice related to the transactions contemplated by this article. Section 11040 of the Government Code and Section 6072 of the Business and Professions Code shall not apply to the legal services agreements entered into by the director pursuant to this section.
(Added by Stats. 2009, 4th Ex. Sess., Ch. 12, Sec. 21. Effective July 28, 2009.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 4 - The State Compensation Insurance Fund › ARTICLE 7 - Transfer of Ownership › Section 11886.2.

11886.2. (a) The Director of Finance shall notify the Joint Legislative Budget Committee in writing upon his or her determination that neither the sale nor any other transaction authorized by this article is anticipated to achieve the purposes of this article or upon the completion of a disposition of State Compensation Insurance Fund assets and liabilities pursuant to this article.
(b) The Director of Finance shall cease those activities he or she is authorized or directed to undertake pursuant to this article upon the earlier of either:
(1) The 30th day following written notice by the director to the Chairperson of the Joint Legislative Budget Committee pursuant to subdivision (a).
(2) January 10, 2012.
(Added by Stats. 2009, 4th Ex. Sess., Ch. 12, Sec. 21. Effective July 28, 2009.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 5 - Market Assistance Program for Long-Term Health Care Facility Liability Insurance › Section 11890.

11890. As used in this chapter:
(a) “Long-term health care facility” has the same meaning as that term is defined in Section 1418 of the Health and Safety Code.
(b) “Residential care facilities for the elderly” has the same meaning as that term is defined in Section 1569.2 of the Health and Safety Code.
(Added by Stats. 2003, Ch. 899, Sec. 3. Effective January 1, 2004.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 5 - Market Assistance Program for Long-Term Health Care Facility Liability Insurance › Section 11891.

11891. (a) If the commissioner finds after a public hearing that liability insurance for long-term health care facilities, residential care facilities for the elderly, or physicians who provide or oversee the provision of services to residents in long-term health care facilities or residential care facilities for the elderly is not readily available in the voluntary insurance market, and that the public interest requires this availability, the commissioner may authorize the formation of a market assistance program to assist in securing that insurance for long-term health care facilities, residential care facilities for the elderly, or physicians who provide or oversee the provision of services to residents in long-term health care facilities or residential care facilities for the elderly. The commissioner may require insurers, agents, and brokers to attend public hearings and meetings concerning either the need for a market assistance program or the organization and formation of a program. The commissioner may also assist in securing insurance for long-term health care facilities, residential care facilities for the elderly, or physicians who provide or oversee the provision of services to residents in long-term health care facilities or residential care facilities for the elderly for which commercial liability insurance is not readily available by forming a risk pooling arrangement as permitted by the Federal Liability Risk Retention Act of 1986.
(b) The commissioner may develop appropriate standards and regulations to implement the market assistance program and risk pooling arrangement authorized by this section.
(Added by Stats. 2003, Ch. 899, Sec. 3. Effective January 1, 2004.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 5 - Market Assistance Program for Long-Term Health Care Facility Liability Insurance › Section 11892.

11892. (a) The commissioner may order the creation of an unincorporated, not-for-profit, temporary joint underwriting association for liability insurance, constituting a legal entity separate and distinct from all its members. The purpose of the association shall be to provide a market for liability insurance on a self-supporting basis, without subsidy from association members.
(b) If the commissioner determines after a public hearing that liability insurance for long-term health care facilities, residential care facilities for the elderly, or physicians who provide or oversee the provision of services to residents in long-term health care facilities or residential care facilities for the elderly is readily available through the voluntary market, the association created pursuant to subdivision (a) shall cease its underwriting operations.
(c) The commissioner may develop appropriate standards and regulations to implement the joint underwriting association authorized by this section.
(Added by Stats. 2003, Ch. 899, Sec. 3. Effective January 1, 2004.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 3 - LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE › CHAPTER 6 - Commercial Property: Vehicle Barrier Discount › Section 11895.

11895. (a) An insurer may consider the installation of vehicle barriers as a safety measure and may provide or offer a discount on the property owner’s insurance covering damage or loss to the covered commercial property or liability arising out of the ownership, maintenance, or use of the commercial property relative to the reduced risk to the property as a result of installation of the barriers if the discount provided or offered is provided or offered consistent with Article 10 (commencing with Section 1861.01) of Chapter 9 of Part 2 of Division 1.
(b) For the purposes of this section, a vehicle barrier is a safety device that meets, at a minimum, the vehicle impact protection standards as provided by the State Fire Marshal and adopted by the California Building Standards Commission and that is installed to protect persons located within, in, or on the property of, buildings, persons located in an adjacent outdoor area that is covered by the commercial property insurance policy and that is used for the purpose of outdoor dining, or to protect pedestrians, from collisions into those buildings or outdoor areas by motor vehicles.
(c) Any discounts on insurance provided in accordance with this section shall be determined to be actuarially sound and approved by the commissioner prior to their use.
(Amended by Stats. 2022, Ch. 180, Sec. 2. (AB 1989) Effective January 1, 2023.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 1 - Capital and Scope of Business › Section 12050.

12050. An incorporated insurer issuing surety policies on the reserve basis shall be governed by the paid-in capital and surplus requirements of Sections 700. 01 to 700.05, inclusive.
(Amended by Stats. 1953, Ch. 958.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 1 - Capital and Scope of Business › Section 12051.

12051. During the first three years following its admission, the insurer’s assets in an amount equal to its required paid-in capital shall be in cash or in the value of obligations, purchase of which is approved by the commissioner, of the United States government, any State, or any county in this State.
(Enacted by Stats. 1935, Ch. 145.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 1 - Capital and Scope of Business › Section 12052.

12052. After such three-year period, investments of such insurers are subject only to the provisions of this code regulating generally the investments of other incorporated insurers issuing policies on a reserve basis.
(Enacted by Stats. 1935, Ch. 145.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 1 - Capital and Scope of Business › Section 12055.

12055. An insurer admitted in the State to transact credit insurance may also acquire and dispose of debts so insured and collect any debts owed to such insurer or to any person so insured by it. In performing any such act the credit insurer shall be under the jurisdiction of the Insurance Commissioner.
(Added by Stats. 1963, Ch. 19.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 2 - Administrative Control › Section 12070.

12070. The commissioner shall publish and maintain a complete list of all admitted surety insurers on the department’s public Web site. The list shall set forth all of the following:
(a) The full corporate name of the insurer.
(b) The name of the state or country under whose laws the insurer is organized.
(c) The date of the certificate of authority issued to the insurer to transact surety insurance in this state.
(Amended by Stats. 2008, Ch. 351, Sec. 5. Effective January 1, 2009.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 2 - Administrative Control › Section 12072.

12072. (a) Whenever the insurer’s certificate of authority is surrendered, revoked, canceled, annulled, or suspended or whenever any such insurer, after such abrogation of its certificate again is admitted, the commissioner shall promptly update the list of admitted surety insurers on the department’s public Web site to include the name of the insurer and the date of that abrogation of, or of renewal of, the certificate.
(b) The list of admitted surety insurers maintained on the department’s public Web site may be used by county clerks and others to confirm the license status of surety insurers.
(Amended by Stats. 2008, Ch. 351, Sec. 7. Effective January 1, 2009.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 3 - Special Restrictions on Business › Section 12090.

12090. (a) An admitted surety insurer shall not become surety on any one undertaking, or accept reinsurance on such undertaking, when its liability thereon, in excess of the amount reinsured by it in an admitted insurer, amounts to more than ten percent of its capital and surplus as shown by its last statement on file in the office of the commissioner.
(b) In determining its liability on an undertaking for purposes of subdivision (a), an admitted insurer may reduce its liability by either or both of the following:
(1) Deposits with the surety insurer, in a manner acceptable to the commissioner, or by conveyance to it in trust for its protection, of assets that would qualify as admitted assets.
(2) A clean and irrevocable letter of credit acceptable to the commissioner.
(Amended by Stats. 1991, Ch. 1020, Sec. 1.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 3 - Special Restrictions on Business › Section 12091.

12091. Whenever a surety insurer fails to maintain such a financial condition that assets allowed under subdivision (a) are equal in value to the aggregate of the charges prescribed under subdivision (b), the commissioner shall act as prescribed in Section 12092.
(a) In estimating its condition the commissioner shall allow as assets only such as are allowed under law in force at the time of the estimate.
(b) The charges to be aggregated shall be:
(1) Eighty percent of the paid-in capital, but in no case less than two hundred fifty thousand dollars ($250,000).
(2) All outstanding indebtedness.
(3) Provision for reinsuring all outstanding risks, estimated as prescribed in Section 985.
(Amended by Stats. 1971, Ch. 163.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 3 - Special Restrictions on Business › Section 12092.

12092. Whenever such an insurer fails to maintain the financial condition required by section 12091, the commissioner shall require the deficiency to be made up in sixty days. If it is not made up as required, he shall issue a certificate showing the extent of such deficiency. He shall publish the certificate once a week for three weeks, in a daily San Francisco paper. From the time of first publication until such deficiency is made up, the insurer shall not do business in this State.
(Enacted by Stats. 1935, Ch. 145.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 3 - Special Restrictions on Business › Section 12093.

12093. Whenever a surety insurer gives notice of cancellation of the coverage of an employee under a blanket fidelity bond, upon the request of the employee, the surety insurer, within 10 days of the request, shall furnish to the employee a statement setting forth the ground or grounds upon which the notice of cancellation is based. There shall be no liability on the part of, and no cause of action shall arise against, any surety insurer, or its licensed investigative sources, for any statements made by it concerning any employee in a written notice required to be given pursuant to this section.
If the surety insurer fails to comply with the provisions of the first paragraph of this section, the employee may apply to the commissioner for a certificate of the facts or information desired and the commissioner shall act thereon in accordance with the provisions of Article 3 (commencing with Section 12950) of Chapter 2 of Division 3.
(Added by Stats. 1961, Ch. 1931.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 4 - Special Regulations › Section 12095.

12095. No insurer admitted in this state to issue surety insurance shall fail or refuse to accept an application for a contractor’s license or performance bond, or to issue such a bond to an applicant therefor, or refuse or cancel such a bond, under conditions less favorable to the obligor than in other comparable cases, except for reasons applicable alike to persons of every characteristic listed or defined in subdivision (b) or (e) of Section 51 of the Civil Code, or persons of every geographical area; nor shall any characteristic listed or defined in subdivision (b) or (e) of Section 51 of the Civil Code, or location within a county, of itself, constitute a condition or risk for which a greater rate, premium, charge, guaranty, or collateral may be required of the applicant for such a bond.
(Amended by Stats. 2008, Ch. 682, Sec. 8. Effective January 1, 2009.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 4 - Special Regulations › Section 12096.

12096. (a) Any applicant for a contractor’s license or performance bond who believes that the admitted surety insurer, regularly issuing such bonds, to whom he has applied did not comply with Section 12095, may file a complaint in writing with the commissioner. If the commissioner finds that there is reasonable ground to believe that the alleged discrimination has occurred, he may set the complaint for hearing, after notice, at which hearing each of the parties to the complaint shall have an opportunity to be heard in person or through their witnesses.
(b) Any determination of the commissioner upon such complaint and hearing shall be judicially reviewable.
(Amended by Stats. 1979, Ch. 1013.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 4 - Special Regulations › Section 12097.

12097. Whoever denies a contractor’s license or performance bond solely on the grounds specified in this article is liable for each and every such offense for the actual damages, and two hundred fifty dollars ($250) in addition thereto, suffered by the licensee or applicant for a license.
(Amended by Stats. 1979, Ch. 1013.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 5 - Financial Guaranty Insurance › Section 12101.

12101. An insurer may be organized and admitted to transact financial guaranty insurance in the manner prescribed for stock property and casualty insurers by the laws of this state. Except as provided in Section 12118, an insurer shall be required to be licensed to transact financial guaranty insurance in California before it transacts that insurance in this state. An insurer shall become admitted to transact financial guaranty insurance upon making application and complying with all the requirements of the law.
(Repealed and added by Stats. 1990, Ch. 1032, Sec. 6.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 5 - Financial Guaranty Insurance › Section 12102.

12102. (a) An insurer with a certificate of authority to transact the business of financial guaranty insurance as defined in Section 12100 may also transact the business of surety insurance as defined in Section 105.
(b) An insurer licensed in this state to transact financial guaranty insurance may not transact any other classes of insurance in this state except surety insurance.
(c) An insurer that anywhere transacts or is licensed for any classes other than financial guaranty insurance, surety insurance, and credit insurance shall not be eligible for a certificate of authority for the class of financial guaranty insurance in this state.
(d) A financial guaranty insurance corporation may only assume in this state those lines of insurance it is admitted to transact in this state.
(e) In other states, an insurer may assume financial guaranty, surety, and credit lines of insurance if it is authorized to transact those lines of insurance in other states.
(f) After licensure the holder shall continue to comply with the requirements of this section.
(Amended by Stats. 2004, Ch. 47, Sec. 1. Effective June 14, 2004.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 5 - Financial Guaranty Insurance › Section 12103.

12103. Prior to the issuance of a certificate of authority to transact financial guaranty insurance, an insurer shall submit for the approval of the commissioner a plan of operation detailing the types and projected diversification of guaranties that will be issued, the underwriting procedures that will be followed, managerial oversight methods, investment policies, and other matters prescribed by the commissioner including, but not limited to, those necessary to allow the commissioner to make a finding for the purposes of Section 717.
(Repealed and added by Stats. 1990, Ch. 1032, Sec. 6.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 5 - Financial Guaranty Insurance › Section 12104.

12104. An admitted financial guaranty insurance corporation shall be subject to all of the provisions of this code applicable to property and casualty insurers to the extent that the provisions are not inconsistent with the provisions of this article.
(Repealed and added by Stats. 1990, Ch. 1032, Sec. 6.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 5 - Financial Guaranty Insurance › Section 12105.

12105. The filing fee for a certificate of authority or amended certificate of authority to transact financial guaranty insurance shall be seven thousand four hundred seventy-two dollars ($7,472).
(Amended by Stats. 2017, Ch. 534, Sec. 73. (AB 1699) Effective January 1, 2018.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 5 - Financial Guaranty Insurance › Section 12106.

12106. (a) An admitted financial guaranty insurance corporation’s investments in any one entity insured by that corporation shall not exceed 4 percent of its admitted assets as of the end of the prior calendar year, except that this limit shall not apply to investments payable or guarantied by a United States governmental unit or agency or the State of California if the investments payable or guarantied by the United States governmental unit or agency or the State of California shall be rated in one of the top two generic lettered rating classifications by a securities rating agency acceptable to the commissioner.
(b) In addition to any transaction that an insurer meeting the requirements of Section 1211 may effect and maintain under any other provision of this code, a financial guaranty insurance corporation may effect and maintain a transaction in contracts for the future delivery or receipt of the currency of a foreign country, interest rate options, credit default swaps under which the insurer is acquiring credit protection, and any other products included in the plan referred to in paragraph (7), if the following conditions are satisfied:
(1) The transaction is used for the purpose of limiting risk of loss under financial guaranty insurance policies or reinsurance contracts covering those policies due to fluctuations in interest rates or currency exchange rates or, in the case of credit default swaps, financial default, insolvency, or other credit events.
(2) The transaction does not exceed a duration of 12 months beyond the term of those policies or reinsurance contracts.
(3) The amount of foreign currencies to be purchased under the transaction does not exceed the amount guarantied under those policies or reinsurance contracts that is denominated in foreign currency.
(4) The amount that is subject to interest rate hedging transactions does not exceed the amount guarantied under those policies or reinsurance contracts that is subject to the risk of interest rate fluctuations.
(5) The counterparty to the transaction has, or is the principal operating subsidiary of a holding company that has, a long-term unsecured debt rating or claims-paying ability rating that is at least investment grade.
(6) The transaction is not conducted for arbitrage purposes.
(7) The transaction is entered into pursuant to a plan that has been approved by the board of directors of the financial guaranty insurance corporation and filed with and approved by the insurance department of the state of domicile of the financial guaranty insurance corporation.
(c) A transaction entered into pursuant to subdivision (b) shall be governed by the terms of this section and shall not be subject to Section 1211.
(Amended by Stats. 2005, Ch. 412, Sec. 2. Effective January 1, 2006.)
2023 California Code › Insurance Code - INS › DIVISION 2 - CLASSES OF INSURANCE › PART 4 - MISCELLANEOUS CASUALTY INSURANCES › CHAPTER 1 - Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances › ARTICLE 5 - Financial Guaranty Insurance › Section 12107.

12107. (a) No insurer shall be issued a license to transact financial guaranty insurance unless it has paid-in capital of at least fifteen million dollars ($15,000,000) and surplus of at least eighty-five million dollars ($85,000,000), and shall at all times thereafter maintain a minimum paid-in capital of fifteen million dollars ($15,000,000) and a minimum surplus of sixty million dollars ($60,000,000).
(b) An insurer licensed in this state and issuing or reinsuring financial guaranty insurance policies in this state prior to January 1, 1991, shall, notwithstanding the provisions of subdivision (a), be deemed to meet the combined paid-in capital and surplus requirements for transacting the financial guaranty insurance business during the period between January 1, 1991, and January 1, 1993, if it has combined capital and surplus of forty-five million dollars ($45,000,000), which includes paid-in capital of at least two million five hundred thousand dollars ($2,500,000).
(c) On and after January 1, 1993, every financial guaranty insurance corporation must fully comply with the condition in subdivision (a) that a minimum paid-in capital of fifteen million dollars ($15,000,000) be held and maintained.
(Repealed and added by Stats. 1990, Ch. 1032, Sec. 6.)