CIGA Must Borrow to Meet WC Commitments
NU Online News Service, May 16, 3:10 p.m. EDT?The financially strapped California Insurance Guarantee Association has been given permission by Commissioner Garamendi to dip into $170 million in funds earmarked for automobile and homeowners claims in order to meet workers' compensation obligations, according to Norman Williams, a spokesperson for the California Department of Insurance.
"The portion of the CIGA fund intended to pay workers' comp claims is gone," Mr. Williams noted.
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