The California Office of Self-Insurance Plans published emergency regulations to establish actuarial-based security deposits as required by Senate Bill 863.SB 863 says security deposits must be based on losses and expenses determined by an actuary.The regulations proposed by OSIP remove from California Code of Regulations the method for establishing a minimum security deposit based on 125% of estimated future liabilities, plus 1% of estimated future administrative and legal costs.The new method for determining the minimum security deposit is based on losses calculated at the undiscounted expec...
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