-5-
Crossroads to review payments made by the primary carrier.
Crossroads may not make reinsurance payments until 5 to 6 years
after a policy year because it does not pay until the primary
carrier's paid claims reach the retention point. Crossroads may
be paying claims for 8 to 10 years after the policy period ends.
2. Crossroads' Reinsurance Agreements With Self-Insurer
Funds
From October 1, 1982, to October 1, 1987, Crossroads wrote
stop loss workers' compensation reinsurance agreements for three
self-insurer funds: The Oklahoma Retail Merchants Group Self-
Insurers Association, the Oklahoma Employers Safety Group Self-
Insurers Association, and the Florida Foliage Association Self-
Insurers Fund.
Since October 1, 1987, Crossroads has written stop loss
workers' compensation reinsurance agreements for four self-
insurer funds: the Florida Retail Federation Self-Insurers Fund,
the Employers Self-Insurers Fund (Florida) (ESIF), the Louisiana
Retailers Association Self-Insurers Fund, and the Louisiana
Employers Safety Association Self-Insurers Fund. These
agreements have each generally been for 1 year. These self-
insurer funds were established by Summit Consulting, Inc. (Summit
Consulting).
On May 4, 1988, Florida's Treasurer and Department of
Insurance issued a consent order restricting Crossroads from
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011