California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 3 - Insurers
Article 9 - Workers' Compensation Insurance. Dividends (Refunds) to Policyholders. Regulations Governing Classification of Risks and Premium Rates, Policy and Endorsement Forms
Section 2504 - Representations Regarding Future Payment of Dividends
No workers' compensation insurer or officer or agent thereof or insurance broker or solicitor shall represent, either orally or in writing, as an inducement either to insure or to continue or to renew insurance, that the insurer has agreed or will agree (a) to pay a specified policyholder's dividend or (b) upon a formula, criteria or factors which set forth or can be used to determine the amount of dividend, or percentage of premium to be paid as dividend, or amount or percentage of premium to be retained by the insurer after payment of dividend or (c) to pay a dividend by any plan which is unfairly discriminatory.
1. Change without
regulatory effect adding new NOTE filed 1-8-2015 pursuant to section
100, title 1, California Code of
Regulations (Register 2015, No. 2).
2. Amendment of section and NOTE
filed 5-31-2016; operative 7-1-2016 (Register 2016, No.
23).
Note: Authority cited: Section 790.10, Insurance Code. Reference: Sections 780, 781, 790, 790.01, 790.02, 790.03 and 11739, Insurance Code.
