Communications / Technical Issues / Technical Issue
2010 CIGA Surcharge
Date: 11/30/2009
The California Insurance Guarantee Association (CIGA) has confirmed that the approved CIGA surcharge for California workers’ compensation policies with 2010 effective dates is 2.0 percent. The surcharge consists of an initial premium charge of 1.0 percent levied pursuant to California Insurance Code §1063.5 for the Workers’ Compensation Account, plus a special bond assessment of 1.0 percent levied pursuant to Insurance Code §1063.74 for payment of principal and interest on bonds issued for the Workers’ Compensation Bond Fund.
The notice issued by CIGA last month is attached. If you have any questions regarding the CIGA surcharge, contact Richard Hurd at 818-844-4300.