public

Loading...

Shasta Linen

published by CDI Press

Want to create a visual like this?

Get Started
Insurer's workers' compensation scheme unravels
Rates and forms not filed, reviewed or authorized by CDI and WCIRB
Inside the scheme
Created a scheme designed to avoid regulatory control by modifying a workers' compensation guaranteed-cost policy and rates
EquityComp program
Insurance policy
Reinsurance Participation Agreement (RPA)
+
Indirect subsidiary of Berkshire Hathaway Inc.
"Profit-sharing" loss sensitive program
Purchaser
Insurer
Hidden contract
LEGAL
ILLEGAL
Failed to file rates with CDI for review
vs
Created a scheme to sell EquityComp to avoid regulatory control
Failed to submit EquityComp forms to CDI & WCIRB for review
Submit policy forms to CDI & WCIRB for review
Sell and administer properly filed policy forms and rates
File rates with CDI for review
www.insurance.ca.gov 800-927-4357
Insurance Protection for All Californians
Report insurance fraud to the California Department of Insurance