Insurance Journal » California Department of Insurance http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 18 Apr 2014 01:58:11 +0000 en-US hourly 1 http://wordpress.org/?v=3.8.2 California Commissioner Gives ‘App On, No Match’ Ridesharing View http://www.insurancejournal.com/news/west/2014/03/25/324413.htm Wed, 26 Mar 2014 02:37:01 +0000 http://www.insurancejournal.com/?p=324413 California Commissioner Dave Jones made his initial recommendations to the California Public Utilities Commission on Tuesday following the California Department of Insurance’s investigatory hearing on March 21 relating to insurance issues and transportation network companies. Jones made his recommendation public …

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Small Workers’ Comp Carrier Exits California http://www.insurancejournal.com/news/west/2014/03/18/323645.htm Tue, 18 Mar 2014 21:23:06 +0000 http://www.insurancejournal.com/?p=323645 Public Service Mutual Insurance Co.’s exit from California’s workers’ compensation market isn’t a reflection of the health of the state’s workers’ comp system, according to the California Department of Insurance. The workers’ comp carrier is part of the Magna Carta …

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Website Has Investment Policies of California’s Largest Insurers http://www.insurancejournal.com/news/west/2014/03/14/323360.htm Fri, 14 Mar 2014 16:38:28 +0000 http://www.insurancejournal.com/?p=323360 The community investment policies of the state’s top 206 insurance companies are now available on the California Department of Insurance website. “By knowing what types of investments California insurers plan to make, as well as their decision process on making …

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Former California Broker Charged With Identity Theft And Forgery http://www.insurancejournal.com/news/west/2013/12/19/315042.htm Thu, 19 Dec 2013 18:13:03 +0000 http://www.insurancejournal.com/?p=315042 Former insurance agent Eugene Shy-Ren Hsu, 31, of West Covina, Calif., was arrested by Department of Insurance officers and charged with multiple felony counts. The charges include grand theft, forgery, and identity theft for allegedly using another agent’s identity to …

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California Lodge Owner Convicted Of Insurance Premium Fraud http://www.insurancejournal.com/news/west/2013/10/31/309949.htm Thu, 31 Oct 2013 16:10:43 +0000 http://www.insurancejournal.com/?p=309949 Brookdale Lodge owner Sanjiv Kakkar, 52, was sentenced to 364 days in jail and three years of probation after pleading no contest for two felony counts including insurance premium fraud and failing to maintain workers’ compensation insurance. Kakkar paid restitution …

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Surplus Lines’ McKay Named to IICF Western Board of Directors http://www.insurancejournal.com/news/west/2013/08/14/301727.htm Wed, 14 Aug 2013 17:05:18 +0000 http://www.insurancejournal.com/?p=301727 Surplus Line Association of California Executive Director Benjamin J. McKay was named to the Insurance Industry Charitable Foundation’s Western division board of directors. The IICF board is comprised of industry professionals with commitment to philanthropy. McKay joined SLA in 2012 …

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WCIRB Raises Advisory Pure Premium 3.4% http://www.insurancejournal.com/news/west/2013/08/07/301124.htm Wed, 07 Aug 2013 23:50:11 +0000 http://www.insurancejournal.com/?p=301124 The Workers’ Compensation Insurance Rating Bureau’s Governing Committee voted unanimously on Wednesday to authorize the WCIRB to file an advisory pure premium rate for 2014 of $2.62 per $100 of payroll, 3.4 percent above the industry average filed pure premium …

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California Department of Insurance Settles with Zurich over Workers’ Comp http://www.insurancejournal.com/news/west/2013/07/11/298231.htm Thu, 11 Jul 2013 22:39:18 +0000 http://www.insurancejournal.com/?p=298231 The California Department of Insurance announced a settlement with Zurich American Insurance Co. and Zurich American Insurance Co. of Illinois over what CDI alleged was improper use of workers’ compensation insurance agreements. Zurich’s agreements forced California employers to arbitrate commercial …

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Five Arrested In California Million-Dollar Mobile Phone Insurance Scam http://www.insurancejournal.com/news/west/2013/05/17/292452.htm Fri, 17 May 2013 14:54:38 +0000 http://www.insurancejournal.com/?p=292452 Five Northern California residents were arrested by California Department of Insurance fraud investigators and booked into the Sacramento County jail and charged with multiple felony counts related to alleged insurance fraud totaling nearly $1 million, according to CDI. Investigators allege …

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Northern California Business Owner Sentenced For Premium Fraud http://www.insurancejournal.com/news/west/2013/02/27/283004.htm Wed, 27 Feb 2013 19:48:37 +0000 http://www.insurancejournal.com/?p=283004 A Northern California business owner has been sentenced for workers’ compensation insurance premium fraud and pay over $2 million in restitution to insurers, the California Department of Insurance announced on Wednesday. Teresa Reif, 34, of Redwood City, Calif., who originally …

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California Commissioner Fingers Insurers for Iran Investments http://www.insurancejournal.com/news/west/2013/02/13/281213.htm Wed, 13 Feb 2013 23:40:03 +0000 http://www.insurancejournal.com/?p=281213 California Insurance Commissioner Dave Jones on Wednesday singled out eight insurers licensed to do business in the state that continue to have investments tied to Iran’s energy, military and nuclear sectors. During a press conference in Los Angeles Jones called …

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California Department of Insurance: $20M Rate Reduction for Homeowners http://www.insurancejournal.com/news/west/2013/01/31/279618.htm Thu, 31 Jan 2013 23:11:28 +0000 http://www.insurancejournal.com/?p=279618 Insurance Commissioner Dave Jones on Thursday announced today a 35 percent rate reduction for lender-placed homeowner’s insurance coverage offered by QBE Insurance Corp. The rate reduction will result in an estimated $19.4 million savings to QBE policyholders, with an average …

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Carriers ‘Uncertain’ About California Workers’ Comp Reform http://www.insurancejournal.com/news/west/2012/12/19/274774.htm Thu, 20 Dec 2012 00:18:45 +0000 http://www.insurancejournal.com/?p=274774 Editor’s Note: This is the fourth in a series of articles to look at California’s workers’ compensation reform law, which takes effect Jan. 1, 2013.   Insurance carriers, along with the many stakeholders who are watching and waiting as California’s …

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Profile: Workers’ Comp Fraud Expert Takes Old School Approach http://www.insurancejournal.com/news/west/2012/12/12/273777.htm Wed, 12 Dec 2012 21:39:20 +0000 http://www.insurancejournal.com/?p=273777 When a Southern California family was convicted of workers’ compensation insurance premium fraud, it wasn’t due to sophisticated software, a supercomputer or even high-tech surveillance techniques. It was the result of good old-fashioned detective work, according to Maryann Lazernik, who …

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California Department Insurance: Streamlined Licensing http://www.insurancejournal.com/news/west/2012/11/29/272266.htm Thu, 29 Nov 2012 23:23:09 +0000 http://www.insurancejournal.com/?p=272266 The California Department of Insurance announced a new process for professionals submitting insurance agent, broker, adjuster and bail agent license applications to CDI. The new process “enhances customer service and increases the operational efficiency of handling licensing applications statewide,” according …

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Social Media Friends Nabbed In Northern California Staged Auto Insurance Fraud http://www.insurancejournal.com/news/west/2012/10/29/268379.htm Mon, 29 Oct 2012 23:43:42 +0000 http://www.insurancejournal.com/?p=268379 Susan Lee, 24, Angelique Jones, 20, and Angela Medeiros, 40, all of Sacramento, Calif. have been arrested on three felony counts each of insurance fraud. The bail for the three ranges from $20,000 to $50,000. A fourth suspect, Krystelmaree Marquez, …

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Former California Agent Sentenced In Theft Case http://www.insurancejournal.com/news/west/2012/10/26/268205.htm Fri, 26 Oct 2012 23:05:35 +0000 http://www.insurancejournal.com/?p=268205 Former insurance agent James Henry Sim, 66, of San Diego, Calif. was sentenced to a stayed term of four years and four months in state prison, the California Department of Insurance announced on Friday. Sims was taken into custody and …

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$42.7M Rate Reduction for California Policyholders of ‘Force-Placed’ Insurer http://www.insurancejournal.com/news/west/2012/10/23/267673.htm Tue, 23 Oct 2012 16:15:46 +0000 http://www.insurancejournal.com/?p=267673 California Insurance Commissioner Dave Jones announced a 30.5 percent rate reduction, for “lender-placed” homeowners’ insurance coverage offered by American Security Insurance Co.,  an Assurant Inc.-owned company. The reduction will result in an estimated $42.7 million savings to homeowners, with an …

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Southern California Educator Arrested For Workers’ Comp Fraud http://www.insurancejournal.com/news/west/2012/10/09/266015.htm Tue, 09 Oct 2012 16:48:49 +0000 http://www.insurancejournal.com/?p=266015 A teaching assistant in Southern California has been arrested on several felony counts of workers’ compensation fraud. Gerard Padilla, 45, an employee of the Los Angeles County Office of Education, has been arrested and charged with five felony counts of …

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CDI Settles Enforcement Action Over Wildfire Claims http://www.insurancejournal.com/news/west/2012/09/26/264437.htm Wed, 26 Sep 2012 15:55:31 +0000 http://www.insurancejournal.com/?p=264437 The California Department of Insurance has settled with the New Hampshire Insurance Company and its authorized agent York Risk Services Group Inc. for claims processing. The $285,000 settlement is a result of New Hampshire Insurance Company and York Services Group …

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Jones Annual Report Details Consumer Protection http://www.insurancejournal.com/news/west/2012/08/28/261037.htm Tue, 28 Aug 2012 22:55:42 +0000 http://www.insurancejournal.com/?p=261037 The California Department of Insurance has issued California Insurance Commissioner Dave Jones’ annual report for 2011 that details CDI’s progress on its “ambitious consumer and business protection agenda.” The report, released each year around August, details the work of the …

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State Fund Files First Tiered Rating Plan http://www.insurancejournal.com/news/west/2012/06/21/252535.htm Thu, 21 Jun 2012 22:39:23 +0000 http://www.insurancejournal.com/?p=252535 State Compensation Insurance Fund has filed its first tiered rating plan with the California Department of Insurance. The plan, which would apply to policies renewing or incepting on or after Sept. 1, is a move to expand State Fund’s range …

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CDI Gives $32 Million to Fight Workers’ Comp Fraud http://www.insurancejournal.com/news/west/2012/06/21/252512.htm Thu, 21 Jun 2012 19:37:34 +0000 http://www.insurancejournal.com/?p=252512 The California Department of Insurance will distribute $32 million in grants to district attorneys in California to support efforts to investigate and prosecute workers’ compensation insurance fraud. Every year, the Fraud Assessment Commission determines the grant funding based on assessments …

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Travelers to Pay $10.5M in Premium Refunds And Fines http://www.insurancejournal.com/news/west/2012/06/19/252188.htm Tue, 19 Jun 2012 16:52:25 +0000 http://www.insurancejournal.com/?p=252188 A settlement agreement has been reached in an enforcement action against Travelers Cos., with the company agreeing to pay $9 million in refunds to policyholders who were overcharged on their premiums, as well as a $1.5 million fine, the California …

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Second Member of Alleged Auto Theft Crime Family Nabbed http://www.insurancejournal.com/news/west/2012/06/14/251724.htm Thu, 14 Jun 2012 22:01:14 +0000 http://www.insurancejournal.com/?p=251724 Louis Miller, 55, has been arrested on felony charges related to an organized automobile theft ring that was operating in Northern California’s Bay Area. Miller’s bail has been set at $1 million. If convicted he could be sentenced to 40 …

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‘Key Figure’ in Organized Auto Insurance Fraud Ring Nabbed http://www.insurancejournal.com/news/west/2012/05/22/248561.htm Tue, 22 May 2012 21:47:01 +0000 http://www.insurancejournal.com/?p=248561 Teddy Marks, 41, of Morgan Hill, Calif., who the California Department of Insurance is calling a “key figure” in an organized auto insurance fraud ring, has been arrested on two felony counts of insurance fraud and one felony count of …

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California Legislator Calls for Hearing on Intervenor Fees http://www.insurancejournal.com/news/west/2012/05/17/247939.htm Thu, 17 May 2012 16:28:20 +0000 http://www.insurancejournal.com/?p=247939 State Sen. Juan Vargas, D-San Diego, has become the latest person to question intervenor fees, calling on the California Department of Insurance to review a state program that allows consumer groups to intervene in insurance rate cases. According to Vargas, …

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Bay Area Business Owners, Employee Nailed For Workers’ Comp Fraud http://www.insurancejournal.com/news/west/2012/05/09/246952.htm Wed, 09 May 2012 16:14:27 +0000 http://www.insurancejournal.com/?p=246952 Sied “Mike Zarrin” Zarrinsaray, 52, his wife Ronak Barazandeh, 43, the owners of United RMR Enterprises, Inc. of San Jose, were arrested for workers’ compensation insurance fraud, according to the California Department of Insurance. Also arrested was their employee, 40-year-old …

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Appellate Court Dismisses Challenge To CDI Replacement Costs Regulation http://www.insurancejournal.com/news/west/2012/05/03/246288.htm Thu, 03 May 2012 21:44:47 +0000 http://www.insurancejournal.com/?p=246288 The California Court of Appeal summarily dismissed a legal challenge by the Association of California Insurance Companies and the Personal Insurance Federation of California to homeowner protection regulations adopted by the California Department of Insurance last summer. The case now …

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California Department of Insurance Wants to be ‘Liked’ http://www.insurancejournal.com/news/west/2012/04/26/245034.htm Thu, 26 Apr 2012 22:11:29 +0000 http://www.insurancejournal.com/?p=245034 Insurance Commissioner Dave Jones and the California Department of Insurance really want you to like them. CDI now has a Facebook page. The page was launched on Thursday, and had about a dozen “Likes” as soon as the page was …

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