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| Santa Maria & Company Risk News |
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Janelle, Thank you for viewing this material. We are pleased to provide this service to you, and to provide up to date information regarding risk management, insurance industry news, products and changes. Santa Maria & Company
SAN FRANCISCO-The California Workers' Compensation Insurance Rating Bureau could propose an increase for rates incepting Jan. 1, the first call for an increase in four years, a spokesman said. Workers comp rates have declined in California since it began implementing reforms in 2003, and states nationwide have looked to its reform practices for examples of potential savings.
Employers and labor have come to an agreement on an end of session temporary disability deal. The compromise language was put in AB 338 (Coto). AB 338 initially would have allowed temporary disability payments for most injuries to be increased from 104 weeks to 156 weeks and allow these benefits to be paid within 5 years of the date of injury. There was strong opposition to this bill from the employer community who had concerns relative to the increased weeks as well as "tolling" rules contained in the measure that would have caused the payment clock to stop in numerous situations. The compromise amendments come from AB 1341 (Benoit), the Republican temporary disability bill that was stalled in the Assembly Insurance Committee earlier this year. AB 1341 would have provided a four year pay-out window for temporary disability payments and would have reduced minimum temporary disability benefits. In this compromise deal, the pay-out window was changed to five years. As amended, the bill makes no change to the maximum of 104 weeks of benefit payments but does allow injured workers more time to exhaust the 104 weeks. Changes to the minimum temporary disability benefits were also taken out of the bill.
This past Thursday, Governor Schwarzenegger signed SB 33 (Simitian) into law. This bill would prohibit teenagers under the age of 18 from using cell phones, text message devices and laptops while driving a vehicle. The new law also prohibits under-18 drivers from using hands-free cell phone devices. If caught, violators will face a possible $20 fine for a first offense, and $50 for subsequent offenses. SB 33 takes effect on July 1, 2008.
WASHINGTON, D.C. -- The House of Representatives this week passed H.R. 2761, the Terrorism Risk Insurance Revision and Extension Act of 2007 (TRIREA), legislation to extend the federal terrorism insurance backstop, which is set to expire at the end of this year. The bill, sponsored by Rep. Michael Capuano (D-MA) and House Financial Services Committee Chairman Barney Frank (D-MA), is critical to maintaining affordable and available terrorism coverage.
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