California News

Texas-Based Premium Finance Group to Be Sold to South Dakota’s MetaBank

Cecil Y. Ray Jr., chairman of AFS/IBEX and former chairman of The Rigg Group, has announced the sale of substantially all of the loan portfolio and related assets of Dallas-based AFS/IBEX Financial Services Inc. – including AFS/IBEX Financial Services Inc. of California and …

California No-Bid Health Contracts Draws Probe

California’s health insurance exchange is facing calls for a state investigation of its contracting practices, while a state senator urged the agency to account for deals that steered millions of dollars to a firm whose employees have long-standing ties to the …

Experts: Insurance Distribution Future Online and Personalized

The future of insurance distribution was discussed at the CPCU Society’s annual All Industry Day in California on Tuesday. The day-long conference at the Sportsmen’s Lodge in Studio City included panels on the economy, business interruption and cyber liability. During …

Abacus Brokers, Golden Bear Launch Online Earthquake Program

Abacus Insurance Brokers Inc., a Los Angeles-based program manager that distributes specialty insurance products online, has partnered with Golden Bear Insurance Co. for its new online residential earthquake program. The program enables a homeowner to select from a variety of …

Eleven Southern California Schools to Undergo Asbestos Testing

An Orange County school district will test every room in its 11 schools for asbestos after questions were raised about whether students were exposed to carcinogenic dust during construction projects earlier this school year. The Orange County Register reported two …

Novato, Insurer Others Settle Suit Over California Girl Killed By SUV

The city of Novato and other defendants have settled a lawsuit by the family of a 12-year-old California girl who was struck and killed by a SUV while riding her bicycle home from school two years ago. The Marin Independent …

California Wildfire Price Tag Exceeds $53M

A huge wildfire in northeast California has run up a firefighting tab in excess of $50 million and become the second priciest blaze in the state this year, officials said. The King Fire east of Sacramento has cost some $53 …

Forecast Calls for More Drought Next Year Across West

Forecasters say severe drought or worse will continue into next year across much of the West, including parts of western Utah, most of Nevada and practically all of California. Below-normal precipitation and normal or above-normal temperatures are forecast in the …

Explosive Growth From California Wildfire Threatens Homes

An out-of-control wildfire that was threatening more than 2,000 homes in Northern California showed explosive growth, consuming tens of thousands of additional acres, fire officials said Thursday. The fire east of Sacramento had burned through 111 square miles, up from …

California Governor Signs Bill Earthquake Insurance Information Bill

Gov. Jerry Brown has signed Assembly Bill 2064, a bill aimed at changing the way Californians learn about earthquake insurance for their homes. Under California law, insurers that sell residential property insurance also must offer earthquake coverage to their policyholders. …