Worker's Compensation Insurance

22 Conversely, if too many funds are reserved, the experience modification may become inflated, leading to the need to unfairly raise the insured’s premiums. Since maintaining insurer solvency is of high importance, loss reserves must be as accu- rate as possible and revised regularly based on the most current claims information available. Q: How does an employer request a Workers’ Compensation premium and loss history report? A : Workers’ compensation premium and loss history reports (commonly referred to as loss runs) must be requested in writing by the policyholder or by the policyholder’s authorized broker-agent. The insurance company has 10 business days to comply with this request under the following circumstances outlined in California Insurance Code Section 11663.5: (1) The policy is cancelled or nonrenewed; (2) The policyholder requests the information within 60 days prior to the renewal date of an existing policy; (3) The policyholder’s current insurer’s rating is downrated by a nationally recognized insurance rating service to a financial rating below secure or good or to a rating that would negatively impact the ability of the policyholder to con- tact its business operations; and (4) The policyholder’s current insurer is conserved by the department is ordered to cease writing business. If an insurance company fails to comply with a written request for loss runs under the provisions of California Insurance Code Section 11663.5, contact the CDI for assistance by using the information provided in the “Talk to Us” section located at the end of this brochure.