West News

Safeco Increases Dividend to Shareholders by 14 Percent

Seattle-based Safeco’s board of directors announced an increase to the company’s quarterly dividend. The board declared a regular quarterly dividend of $0.25 per share, payable on July 25, 2005 to shareholders of record as of July 8, 2005. “With our …

A.M. Best Assigns Rating to California Insurance Co.

A.M. Best Co. has assigned a financial strength rating of A- (Excellent) to California Insurance Company (CIC) (San Francisco, Calif.), a wholly-owned subsidiary of Applied Underwriters Inc. (AUI) (Omaha, Neb.). The rating outlook is stable. The rating reflects CIC’s adequate …

Calif. Broker Arrested on Seven Counts of Grand Theft

Insurance broker Robert Stephen Rice, 56, was arrested on seven felony counts of grand theft at his home in Thousand Oaks, Calif., by the California Department of Insurance (CDI) Fraud Division. The arrest is the result of an investigation by …

Calif. Credit Regulation Bill Passes First Committee

Legislation sponsored by the Association of California Insurance Companies (ACIC) to impose strong regulation of the use of credit information by homeowners insurers passed its first committee test today. The bill, AB 1454 by Assemblyman Ron Calderon (D-Montebello), was approved …

ACIC: Costly, Anti-Consumer Bill Passes Calif. Committee

The Senate Judiciary Committee has approved legislation that would shift Medi-Cal costs – and insurance rate hikes – to all forms of liability insurance, such as homeowners and automobile coverage, according to the Association of California Insurance Companies. The ACIC-opposed …

Former Claims Adjuster Arraigned on Grand Theft, Forgery Charges

A former American Financial Group claims adjuster/litigation specialist was arrested April 27 and charged with embezzling his employer out of more than $490,000 during his employment in the Los Angeles area office between 1998 and 2004. The arrest is the …

Majority of Washingtonians Want Changes in Cell Phone Laws

According to PEMCO’s 2005 Northwest Insurance Poll, four out of five Washington drivers believe that talking on cell phones while driving should be legal only with hands-free devices, or made illegal altogether, but changes to state law won’t likely happen …

Wash. Gov’t Takes Pro-Business Steps Toward Regulatory Modernization

In what may become a significant step toward regulatory modernization of property and casualty insurance in Washington state, the governor has signed into law legislation sought by the Office of Insurance Commissioner that could help businesses more quickly access commercial …

Calif. Legislative Committee Takes Correct Action on Producer Requirements

California legislators have issued a “sharp rebuke” of Insurance Commissioner John Garamendi’s efforts to impose new requirements on agents and brokers, according to the National Association of Mutual Insurance Companies (NAMIC). On Wednesday, the Senate Banking, Finance and Insurance Committee …

Ross Joins Kibble & Prentice

Seattle-based Kibble & Prentice, a leader in the Northwest insurance and financial services industry since 1972, has hired industry veteran Dave Ross as vice president of the Employee Benefits and Private Client groups. Ross spent his entire 20-plus year career …

West News Archives by Month