(a) The terms âmember insurer,â âinsolvent insurer,â and âcovered claimsâ have the meanings assigned those terms in Section 1063.1. (b) âBankâ means the California Infrastructure and Economic Development Bank created pursuant to Article 1 (commencing with Section 63020) of Chapter 2, Division 1 of Title 6.7 of the Government Code. (c) âBoardâ means the board of governors of CIGA. (d) âBondsâ means bonds issued by the Bank pursuant to Article 8 (commencing with Section 63049.6) of Chapter 2 of Division 1 of Title 6.7 of the Government Code to provide funds for the payment of the covered claims and the adjusting and defense expenses relating to those claims that are issued at the request of the board pursuant to Section 1063.73. (e) âCollateralâ means the special bond assessments, the right of CIGA to be paid the special bond assessments, all revenues therefrom, the separate accounts of the Workersâ Compensation Bond Fund, the Homeownersâ and Automobile Bond Fund, and the Other Bond Fund into which special bond assessments are deposited, and the proceeds thereof. (f) âCIGAâ means the California Insurance Guarantee Association, established pursuant to Article 14.2 (commencing with Section 1063). (g) âCommissionerâ means the Insurance Commissioner. (h) âDepartmentâ means the Department of Insurance. (i) âHomeownersâ and Automobile Bond Fundâ means the fund created pursuant to subdivision (b) of Section 1063.72. (j) âOther Bond Fundâ means the fund created pursuant to subdivision (c) of Section 1063.72. (k) âSpecial bond assessmentâ means the premiums collected by CIGA pursuant to Section 1063.74. (l) âWorkersâ Compensation Bond Fundâ means the fund created pursuant to subdivision (a) of Section 1063.72.
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