California Insurance Commissioner Dave Jones News

Former L.A. Broker Convicted of Stealing Insurance Premiums

Martin McCloskey, 69, of Piñon Hills, Calif., pleaded guilty this week to three felony counts of grand theft and theft of fiduciary funds after defrauding his customers by failing to remit to insurance companies more than $58,000 in premiums he …

California’s Jones Appoints Allen Deputy Commissioner for Rate Regulation

California Insurance Commissioner Dave Jones has appointed Ken Allen as deputy commissioner of the rate regulation branch for the California Department of Insurance. Allen will fill the vacancy left by Joel Laucher, who was appointed chief deputy insurance commissioner in …

California Insurance Agent Nabbed for Fraud Scheme Involving 100-plus Policies

Vicki Lee McGinley, 58, a licensed insurance agent in California, was arrested by the Kern County Sheriff’s department on seven counts of identity theft and seven counts of insurance fraud after allegedly misrepresenting policy and premium information to clients resulting …

California Commissioner Approves Rate Reductions on State Farm Commercial Policies

California Insurance Commissioner Dave Jones has approved rate reductions for several State Farm commercial policies that he said will bring millions of dollars in premium savings for tens of thousands of small businesses, farm owners, apartment owners, and condo associations …

California Commissioner Asks Consumer Watchdog to Retract News Release

California Commissioner Dave Jones on Wednesday asked Consumer Watchdog to retract a news release about State Farm that he said “includes inaccurate statements and is misleading.” The Consumer Watchdog news release issued on Tuesday was picked up by media outlets, …

CastlePoint National Conserved by California Regulator to Protect Policyholders

CastlePoint National Insurance Co., the sole remaining carrier member of the Tower Group, was placed into conservation on Thursday by order of the San Francisco Superior Court to protect policyholders and injured workers covered under policies issued by CastlePoint and …

$30M Settlement with Bristol-Myers Squibb in California Whistleblower Suit

California Insurance Commissioner Dave Jones reached a $30 million settlement with pharmaceutical giant Bristol-Myers Squibb over allegations of drug marketing fraud and physician kickbacks. The settlement stems from charges in a whistleblower lawsuit filed by three former Bristol-Myers Squibb sales …

Former NFL Player Arrested in California for Staged Collision Scheme

Former Kansas City Chiefs’ wide receiver Jeffrey Leon Webb, 34, of Indio, was arrested on multiple felony counts after orchestrating four staged collisions resulting in a total loss exceeding $139,000. Webb and eight co-conspirators were allegedly involved in four staged …

California Commissioner Asks National Regulators to Block Aetna-Humana Deal

California’s insurance commissioner on Thursday urged national antitrust regulators to block health insurer Aetna Inc’s proposed $34 billion acquisition of Humana Inc. David Jones, whose state Department of Insurance does not have authority to block the deal, said the acquisition …

Allstate Returns to California Homeowners Market With 12.6 Percent Reduction

Allstate Insurance returned to the California homeowners insurance market this week following a nine-year absence writing new policies. Insurance Commissioner Dave Jones welcomed Allstate, which entered into an agreement with the commissioner to reduce its homeowner insurance rates by an …