(a) Any public self insurer or individual private self insurer shall be permitted to insure any part of its liability to secure the payment of compensation pursuant to Labor Code Section 3700 with a standard workers' compensation insurance policy issued by a carrier. Full coverage of a self insurer's workers' compensation liability under a standard workers' compensation insurance policy shall be good cause for revocation of the certificate to self insure.
(b) All public self insurers and individual private self insurers shall provide the Manager with information on any standard workers' compensation insurance policies, specific excess workers' compensation insurance coverage, and any aggregate excess (stop loss) workers' compensation insurance coverage carried, as part of the Self Insurer's Annual Report or upon the request of the Manager. Evidence of any of these three types of insurance coverage shall also be provided to the Manager in the form of a Certificate of Insurance from the carrier, along with any changes, cancellations, revisions, or new policies.
(c) Upon the request of the Manager, any public self insurer or individual private self insurer shall provide a Certificate of Insurance or a copy of the workers' compensation insurance policy or policies maintained by the self insurer for any year or partial year in which claims have been reported.
(d) Specific excess workers' compensation insurance policies are not required to be purchased or maintained by any public self insurer or individual private self insurer.
(e) Any individual private self insurer who elects to purchase an aggregate workers' compensation excess policy shall not be given any credit by the Manager toward the security deposit to be posted due to aggregate excess insurance coverage.
|Note: Authority cited: Sections 54, 55 and 3702.10, Labor Code. Reference: Sections 59, 129, 3700, 3701, 3701.5, 3702, 3740, 3743 and 3744, Labor Code.|
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