ARTICLE 3. Voluntary Reinsurance Mechanism [10719. - 10729.]
Article 3 added by Stats. 1992, Ch. 1128, Sec. 10.
§§ 10719–10729 · 13 sections
- § 10719 The California Small Group Reinsurance Fund is hereby authorized to be created solely to allow carriers to share in financing the cost of covering high risk…
- § 10719.1 Any person or entity subject to the requirements of this chapter shall comply with the standards set forth in Chapter 7 (commencing with Section 3750) of Part…
- § 10720 (a) The fund shall be governed by a board of directors, which shall initially be elected by small employer carriers and small employer health care service…
- § 10720.1 The fund shall have the general powers and authority granted under the laws of California to insurance companies and health care service plans licensed to…
- § 10721 The fund shall provide for the financing of its reinsurance and operating costs, including actuarially sound reserves for unpaid losses, by charging members a…
- § 10722 If assessments exceed actual losses and administrative expenses of the fund, the excess shall be held at interest and used by the fund to offset future losses…
- § 10723 Any unsatisfied net liability or outstanding assessment owed by an insolvent member participating in the fund shall be assumed by and apportioned among the…
- § 10724 Carriers choosing to participate shall comply with all requirements for participation established by the fund.
- § 10725 The fund’s board of directors shall establish the rules, conditions, and procedures pertaining to the reinsurance of members’ risks by the fund.
- § 10726 Nothing in this article relieves members of participating in the fund from complying with the underwriting and rating provisions included in Article 1…
- § 10727 The fund shall be exempt from any and all taxes.
- § 10728 For purposes of agreements entered into pursuant to this article, the fund, and its officers, directors, agents, and employees shall have no liability for any…
- § 10729 The fund shall establish rules, conditions, and procedures relating to the indemnification of any person or member of the fund made a party to any claim,…