An insurer issues indemnity payments on a CA WC claim using an Ohio bank. This is:

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Prepare for the California Self‑Insurance Plans (SIP) Exam with our interactive quiz. Benefit from multiple-choice questions, detailed explanations, and essential tips to enhance your knowledge and succeed in your exam!

Multiple Choice

An insurer issues indemnity payments on a CA WC claim using an Ohio bank. This is:

Explanation:
Indemnity payment timing is based on the date the insurer issues the payment, not where the bank is located or when the funds actually clear. Since the check is issued from an Ohio bank, the issuance date is the Friday on which it is drawn. The weekend or banking location doesn’t change that issuance date, even if delivery or clearance happens later. So, the payment is considered issued on Friday.

Indemnity payment timing is based on the date the insurer issues the payment, not where the bank is located or when the funds actually clear. Since the check is issued from an Ohio bank, the issuance date is the Friday on which it is drawn. The weekend or banking location doesn’t change that issuance date, even if delivery or clearance happens later. So, the payment is considered issued on Friday.

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