Definition of " margolin act"

Tina  Dillon real estate agent

Written by

Tina Dillonelite badge icon

Howard Hanna Real Estate Services

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.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Contract for retirements benefits in which an entire group of employees is underwritten, as opposed to a single annuity for each employee. Each premium pays for an increment of a paid-up ...

Endorsement to owners, landlords, and tenants LIABILITY POLICY, MANUFACTURERS AND CONTRACTORS LIABILITY INSURANCE, or other liability policies for business firms that provides liability ...

Contracts of reinsurance in which expected income from investments is a major component of the UNDERWRITING process. Also, the ultimate liability of the reinsurer is limited. The reinsurer ...

Marketing of insurance through independent agents; also called independent agency system. Independent agents usually represent several insurance companies and try to insure the risk ...

Private pension plan credit given for an employee's past service with an employer prior to establishment of a pension plan. Usually, a lower percentage of compensation is credited for ...

Type of commercial property policy that provides coverage for a business' indirect losses resulting from damages to the property of the business. Coverage normally contains a coinsurance ...

Legislation by a state that taxes out-of-state insurance companies operating in its jurisdiction in the same way that the state's own insurance companies are taxed in the second state. For ...

Detail showing distribution of property coverages written by an insurance company. Illustrates a potential danger of concentration of insured risks. ...

Curve that results when yields on short-term treasury issues exceed those on long-term government debt. A widely accepted theory holds that when short-term and intermediate term issues are ...

Popular Insurance Questions