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
Coverage for additional buildings on the same property as the principal insured building. Most property insurance contracts such as the homeowners insurance policy cover appurtenant ...
Means of funding permitted under the employee retirement income security act of 1974 (ERISA). The administrator of a pension plan can comply with required minimum funding standards by ...
Very broad term for insurance covering liability exposures for individuals and business owners. It provides broad coverage, generally including all exposures for property damage and bodily ...
Payments awarded by a court in a liability suit. Money damages can be broken down into compensatory and punitive. Compensatory damages reimburse a plaintiff for expenses incurred for such ...
Endorsement to owners, landlords, and tenants LIABILITY POLICY, MANUFACTURERS AND CONTRACTORS LIABILITY INSURANCE, or other liability policies for business firms that provides liability ...
Clause in a property insurance policy that stipulates that either the insurer or the insured has the right to demand an appraisal in order to determine the monetary damage or loss to an ...
Clause found in an annuity contract that enables the owner of that contract to withdraw his or her money without surrender penalties, if the annual interest rate is lowered below a certain ...
Conducting of maritime suits involving ocean marine insurance policy claims before an admiralty court. ...
Losses paid plus positive or negative changes in the year-end loss reserves during that particular year. The total amount includes payments for any old claims as well as new claims, plus ...
Have a question or comment?
We're here to help.