WORKERS'COMP.
State Comp. Ins. Fund v. Workers' Comp. Appeals Bd.
Opinion
Opinion
Vogel, J.
Introduction
Mario Chacon entered into a settlement agreement with State Compensation Insurance Fund (SCIF), a workers’ compensation carrier. The settlement agreement, which was approved by the Workers’ Compensation Appeals Board (WCAB), provided for a structured settlement, including periodical annuity payments of $1,500 and $3,000 to be paid beginning on or about February 15, 1997.
The annuity checks, which were issued and postdated February 15, 1997, by an out-of-state life insurance company, were received February 14, 1997, and deposited. Because the funds were not available until February 19, 1997, the WCAB determined the checks were not immediately negotiable and payable in cash on demand as required by law, and that unreasonable delay had occurred subjecting SCIF to penalty and interest. We reverse, finding no delay in accordance with the approved settlement agreement.
Facts
Mario Chacon sustained admitted injury to the knees, spine and heart from a fall at work on September 12, 1988.
Subsequently, the workers’ compensation judge (WCJ) awarded 81 percent permanent disability and three 10 percent penalties against SCIF for unreasonable delay in paying various…