Cal. Codes » Insurance Code / DIVISION 2. CLASSES OF INSURANCE / PART 3. LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE / CHAPTER 3. Regulation of Business of Workers’ Compensation Insurance / ARTICLE 1. Deposits by Workers’ Compensation Insurers
California Codes

Cal. Insurance Code § 11698.02 (2026)

✓ current as of May 2026
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The proceeds of the deposit required pursuant to Section 11691 shall be used solely to pay compensable workers’ compensation claims under the insured or reinsured policies, allocated claims expense necessary to pay those claims, and the expenses connected with all proceedings or actions permitted or required by this article in furtherance of the payment of those claims, or should the commissioner pursuant to subdivision (a) of Section 11698.01 enter into reinsurance and assumption agreements with one or more reinsurers, the proceeds of the deposit shall be used to reimburse those reinsurers.

Notes of Decisions
Cited in 5 cases, 2008–2018 · leading case: Bank of New York v. Fremont Gen. Corp., 514 F.3d 1008 (9th Cir. 2008).
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Bank of New York v. Fremont Gen. Corp., 514 F.3d 1008 (9th Cir. 2008). “” Cal. Ins.Code § 11698.02. California defines a “compen-sable workers’ compensation claim” as “a claim where the claimant is entitled to benefits under the workers’ compensation law of the state [of California].”
Bank of New York v. Fremont Gen. Corp., 523 F.3d 902 (9th Cir. 2008). “” Cal. Ins.Code § 11698.02. California defines a “compen-sable workers’ compensation claim” as “a claim where the claimant is entitled to benefits under the workers’ compensation law of the state [of California].”
People Ex Rel. Hammer v. Lumbermens Mut. Cas. Co. (In Re Liquidation of Lumbermens Mut. Cas. Co.), 2018 IL App (1st) 170996 (Ill. App. Ct. 2018). “See Cal. Ins. Code § 11698.02 (West 2012) ("The proceeds of the deposit * * * shall be used solely to pay compensable workers' compensation claims under the insured or reinsured policies, allocated *399 claims expense necessary to pay those claims, and expenses connected with…”
Bank of New York v. Fremont Gen. Corp. (9th Cir. 2008). “” Cal. Ins. Code § 11698.02 . California defines a “compensable workers’ compensation claim” as “a claim where the claimant is entitled to benefits under the workers’ compensation law of the state [of California].”
Bank of New York v. Fremont Gen. Coporation (9th Cir. 2008). “” Cal. Ins. Code § 11698.02 . California defines a “compensable workers’ compensation claim” as “a claim where the claimant is entitled to benefits under the workers’ compensation law of the state [of California].”
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