California Department of Insurance News

Geico Agrees To $6M Settlement over Business Practices in California

Geico has agreed to pay $6 million dollars and implement several changes to their business practices as part of a settlement with the California Department of Insurance, CDI announced on Monday. The settlement stems from a petition in which Consumer Federation …

California WCIRB Proposes Premium 7.8% Below 2015 Average

The Workers’ Compensation Insurance Rating Bureau has submitted its Jan. 1, 2016 pure premium rate filing to the California Department of Insurance proposing advisory pure premium rates that average $2.45 per $100 of payroll. That WCIRB figure is 7.8 percent …

Former Insurance Regulator Bottalico Joins Locke Lord in California

Alfred W. Bottalico, former deputy commissioner for the financial surveillance branch of the California Department of Insurance, has joined Locke Lord LLP’s global regulatory and transactional insurance practice group in Los Angeles, Calif. as an insurance specialist. Bottalico has 38 …

Court Decision May Impact Workers’ Comp Side Agreements in California

A recent court decision may have the potential to change the practice of side agreements in workers’ compensation policies California, a practice that some say often goes on under the regulatory radar. Zurich American Insurance Co. and American Zurich Insurance …

6 Sentenced in Large Cellphone Insurance Scam in California

Six people involved in a mobile phone insurance scam in California have been sentenced on felony fraud charges after filing more than 1,300 claims for stolen and damaged phones totaling more than $500,000. The convicted scammers, including some Verizon Wireless …

Cal Fire Captain, Insurance Agent Brother Arrested For Insurance Fraud

A California Fire captain and his insurance agent brother have been arrested for insurance fraud. Neal Moriarty, 38, a Cal Fire Captain, and Ross Moriarty, 42, a licensed insurance agent, were arrested last week on multiple felony counts of insurance …

Former California Agent Ordered to Pay Restitution for Premium Theft

Christopher Emery, 33, of Downey, Calif. formerly a licensed insurance broker doing business as CPE Insurance Services, has plead guilty to seven felony counts of grand theft for stealing insurance premiums. Emery collected premium payments from customers and failed to …

Report on California Workers’ Comp Reforms Touts Successes

The Department of Industrial Relations and its Division of Workers’ Compensation have released a report on progress implementing California’s workers’ compensation reforms. The report details increased payments to injured workers and significant cost-saving benefits for employers. The reforms are part …

California’s COIN Program Generates “Tens of Millions” in Community Funds

California Insurance Commissioner Dave Jones on Thursday paid homage to the insurance industry for “tens of millions” of charitable dollars that came from the insurance industry as part of the California Organized Investment Network. Jones made his remarks at the …

California Executive Life Insurance Settlement Ends 16 Years of Litigation

A settlement has been reached with the last remaining defendant in a 16-year-old lawsuit brought by the California Department of Insurance that arose out of the 1991 liquidation of Executive Life Insurance Co. The French company Artemis S.A. has agreed …