Margolin Act
Definition of " margolin act"
Legislation passed in California that establishes procedures applicable to any worker who incurs a job-related injury. This act has far-reaching implications for workers compensation insurance in other states also. Under the act, the employer must provide the Employee's Claim for Workers Compensation Benefits form upon an employee's request or within 1 day of his or her injury. A series of penalties and fines is established in the event that claims rightfully due a claimant are inappropriately delayed. For example, one fine could result if indemnity payments do not begin within 14 days of the employer's knowledge of an employee's disability. Another tine could result if the entire compensability investigation is not completed within 90 days. Attorney's are required to provide prospective clients at the initial consultation with an Attorney Fee Disclosure Statement, which states attorneys' fees for handling the case, and also encourages the prospective client to use instead the Office of Benefit Assistance and Enforcement, which provides its service at no charge. It is a requirement that this form be signed by both the prospective client and the attorney.
Popular Insurance Terms
Proposal by Roger Kenney, an insurance journalist, that in order to maintain the solvency of a property and casualty insurance company, insurance premiums written should not exceed more ...
Plan administered through a primary private life insurer and reinsured through other private life insurers, providing a death benefit equal to: one year's salary for active employees at ...
Cancellation of a policy by an insurance company. ...
1961 federal legislation that allows the U.S. Export-Import Bank to set up insurance protection for U.S. exporters against credit risk and political risk in order to help make U.S. exports ...
Additional coverage available on most property insurance policies through the extended coverage endorsement. Windstorms, including hurricanes, cyclones, and high winds, are not among the ...
Same as term Accidental Death Clause: in a life insurance policy, benefit in addition to the death benefit paid to the beneficiary, should death occur due to an accident. In double ...
Phrase in most liability insurance policies that eliminates from coverage damage or destruction to property under the care, custody, and control of an insured. Such coverage is excluded ...
Annuity in which premium payments are used to purchase accumulation units, their number depending on the value of each unit. The value of a unit is determined by the value of the portfolio ...
Insurance company established by a trade group or other association to provide selected types of primary insurance and/or liability insurance for members of the association and access to ...
Have a question or comment?
We're here to help.