California Self Insurer’s Security Fund Statement on Mainstay Business Solutions

“On April 19, 2011, the State of California’s Department of Industrial Relations (DIR) notified the Security Fund that Mainstay Business Solutions (Mainstay) had defaulted on the payment of benefits for its self-insured workers’ compensation liabilities that arose between March 1, 2005 and April 18, 2011. DIR directed the Security Fund to assume liability for the administration of these claims pursuant to Labor Code Section 3701.5(b) and (c).

According the most recent available figures, there were 481 open indemnity cases with a combined estimated future liabilities of approximately $16.5 million. Mainstay represents the 71st self-insured entity to default since the Security Fund was created by the California Legislature in 1983. Fifty-eight (58) of these entities still have active claims. With the addition of Mainstay, the Security Fund manages more than 2,000 open claims, with total estimated future liabilities of at least $116 million.”

“Mainstay Employees: Mainstay employees with workers compensation claims may direct their inquiries to: Jeff Nakadate, Claims Supervisor, at Metro Risk Management 310-816-6630″

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