Pennsylvania Act No. 470, Laws of 1937. One percent of net written premiums payable annually until fund, over and above liabilities, equals 5% of workmen's compensation loss reserves of stock carriers as of June 30 next preceding. Payments are to be resumed when the fund falls below this amount. United States Longshoremen's and Harbor Worker's Act Special Fund $18 (b) and 44 - $1,000 paid into Fund by employer in each no-dependency death case. Wisconsin Workmen's Compensation Law, Sec. 102.65. One percent of earned premiums payable annually until fund, over and above liabilities, equals 5% of the loss reserves of all stock carriers for the payment of benefits under said section as of December 31 next preceding. Payments are to be resumed when fund falls below this amount. Payments into stock fund are not to be discontinued unless said fund consists of at least $25,000 over and above its known liabilities. This fund has now been consolidated with the mutual and reciprocal funds and transformed into a temporary fund for payment of assessments into the newly created post assessment Insurance Security Fund which has broad coverage, including work men's compensation (S.B. 525) Chapter 144, Laws of 1969. Broad Guarantee Provisions Including Workmen's Compensation California Act 14.2 Sec. 1063 ff. of the Insurance Code. Provides for creation of California Insurance Guarantee Association to which all insurers, with certain exceptions life, title, etc. must belong. Workmen's compensation writers included as a separate category. Post insolvency assessment limited to 1% of net direct premium written in particular category (Chapter 1347, Laws of 1969, effective August 31, 1969). Michigan Secs. 7833 and 7901 ff. (compiled Laws of 1948, added by Act No. 277, Laws of 1969) creates Property and Casualty Guaranty Association to which all insurers, except life, must belong. Workmen's compensation writers included as a separate category. Post insolvency assessment limited to 1% net direct premium written in previous calendar year in particular category. EXCERPT PUBLIC APPRAISAL OF AUTOMOBILE INSURANCE RATES AND RELATED TOPICS 1969 An Analysis by The Staff of THE INSURANCE INFORMATION INSTITUTE Together With Research Findings Prepared For The Insurance Information Institute by ORC CARAVAN SURVEYS, INC. A Subsidiary of Princeton, New Jersey |