adjustercom.com
adjustercom.net
The Stockwell Firm adjustercom publishes your thoughts and ideas...
Home
News

 Features


Other Claims News
People
Forums
The Comp Examiner Directory
The Liability Adjuster Directory
Service Provider Directory
Post a Job
View Jobs
Resumes
View Resumes
Contact Us

Adjusters Friend

jobs.adjustercom.com

 

Place Your Banner Here With A Click

 

adjustercom.net - FraudFromInsideAndOutsideTheCourtroom

 


Welcome Guest! | Login | Register with adjustercom
 
 
News

News Archive

Email a Friend Email A Friend

More News

March 25, 2024
California Division of Workers' Compensation Posts Adjustments to Official Medical Fee Schedule (Physician Services / Non-Physician Practitioner Services)

March 19, 2024
Nearly half of all litigated workers' compensation claims in the Los Angeles basin are cumulative trauma claims.

March 7, 2024
California's Division of Workers' Compensation Posts Adjustment to Official Medical Fee Schedule (Ambulance Services)

March 6, 2024
Accident Claims The Life of AdminSure Claims Adjuster Alexis Wicker



The Commissioner Conspiracy Theory
By Robert Warne - June 4, 2003

Video Broadcast
The Commissioner Conspiracy Theory
Runtime 2:09

Real Media
56k | Broadband

Windows Media Player
56k | Broadband

Quicktime
56k | Broadband

Are Insurance Commissioner John Garamendi’s actions towards State Compensation Insurance Fund the precursor to the execution of a radical master plan?

There has been much talk about working things out and resolutions and solutions recently but it’s not so much what has been said, but the motivator behind the exchanges, that is so intriguing.

Consider the public dialog between Garamendi and State Fund in light of the pressure mounting for the governor, commissioner and legislature to fix California’s work comp crisis, and the following theory makes sense.

The basic plan rumored among insurance insiders is that Garamendi wants to arrange a marriage between State Fund and the California Insurance Guarantee Association (CIGA).

By doing this, State Fund’s $12 billion in assets could be used to cover CIGA’s current $3 billion in liabilities caused by the state’s menagerie of insolvencies.

It would only make sense that State Fund should pay for the insolvencies because they caused them by recklessly competing for business at lowball rates.

This may be all it takes to force State Fund to cough up some of its business for other carriers.

As twisted as this may all sound, if the political calculations are all in agreement, then such a plan may be well received, especially if it packaged in a way that gives off the impression that it will stabilize the work comp system.

Desperate times require desperate measures. In his latest statement on the matter Garamendi said he expected to resolve the State Fund reserve issued in June.

Whether he’s speaking in code or not, it won’t be long till we find out if this theory holds water and the commissioner moves forward with operation “arranged reserving”.

 
 

 Hot Jobs


Adjuster / Examiner
Claims Examiner
Santa Ana Unified School District
Santa Ana, CA
View All Jobs

The J Morey Company

Build Your Brand

jobs.adjustercom.com

The J Morey Company


    Copyright 2024 | Privacy Policy | Feedback |  

Web site engine's code is Copyright © 2003 by PHP-Nuke. All Rights Reserved. PHP-Nuke is Free Software released under the GNU/GPL license.