California Insurance Guarantee Association: definitions.

Existing law establishes the California Insurance Guarantee Association to provide coverage against losses arising from the failure of an insolvent property, casualty, or workers' compensation insurer to discharge its obligations under its insurance policies. Existing law defines "covered claims" for purposes of these provisions to mean the obligations of an insolvent insurer that satisfy specified requirements, including that the claim be presented as a claim to the liquidator in this state or to the association on or before the last date fixed for the filing of claims in the domiciliary liquidating proceedings. This bill would revise the definition of "covered claims" with respect to the requirement that the claim be presented as a claim to the liquidator in this state to instead require that the claim be presented as a claim to the liquidator in the state of domicile of the insolvent insurer or to the association as described above.