Latest California Headlines
All the headlines from our California Topic Page, ordered by recency.
Do Cannabis or Alcohol Taxes Have Higher Upside for Society?
Aug 22 2019 // Which helps society more? Alcohol or cannabis. That sounds like a funny question, but it may be an important one with more local governments embracing the opportunity to bring in tax revenue from cannabis sales. A new...
Guy Carpenter Tapped for California Wildfire Fund Reinsurance Program
Aug 22 2019 // Guy Carpenter & Company LLC has been named the sole reinsurance intermediary for the newly formed California Wildfire Fund, which is currently being administered by the California Earthquake Authority. Guy Carpenter...
Wildfires Making Insurance Harder to Find, California Department of Insurance Says
Aug 21 2019 // Severe wildfire seasons have made it harder for homeowners to find insurance in high wildfire-risk areas, according to new data collected by the California Department of Insurance. The data released this week from the CDI...
The Lowdown: Employer Risk in California and Beyond
Aug 21 2019 // Newly released this week on Research & Trends, “Risky Business ā Employment Practice Litigation on the Rise” offers insights into the many predicaments your business prospects and clients could find...
Top 15 Earthquake Insurance Companies
Aug 21 2019 // Earthquake coverage is available mostly from private insurance companies. In California homeowners can also get coverage from the California Earthquake Authority (CEA), a privately funded, publicly managed organization....
California Workers’ Comp Bureau Submits Lower 2020 Pure Premium Rate Filing
Aug 20 2019 // The Workers’ Compensation Insurance Rating Bureau of California on Tuesday submitted its Jan. 1, 2020, pure premium rate filing to the California Department of Insurance, proposing advisory pure premium rates that...
PG&E Will Face Jury Over Billions in Damages from Massive California Wildfire
Aug 20 2019 // Victims of the second-most destructive fire in California history will get a chance to try and persuade a jury that PG&E Corp. should pay them as much as $18 billion in damages. U.S. Bankruptcy Judge Dennis Montali on...
Blank Rome Adds Calkins, Rylaarsdam and Edri in California
Aug 20 2019 // Blank Rome LLP has added Mary Craig Calkins, a partner, Daniel H. Rylaarsdam, of counsel, and Sarah L. Edri as an associate along with additional professional staff to the firm’s insurance recovery group. Calkins,...
IICF Awards $50K Grant to California Fire Foundation for Victims
Aug 19 2019 // The Insurance Industry Charitable Foundation’s Western Division presented a $50,000 grant to the California Fire Foundation’s Supplying Aid to Victims of Emergency program on Aug. 16. The grant is to support...
Abry Partners Agrees to Acquire Portfolio in California from Capital Z
Aug 19 2019 // Abry Partners has agreed to acquire Lake Forest, Calif.-based Portfolio Holding Inc. from Capital Z Partners LP. The deal is subject to normal and customary closing conditions. Terms were not disclosed. All of...
PG&E Shares Dive on Risk of up to $18B in Wildfire Lawsuit Costs
Aug 19 2019 // PG&E Corp. shares plunged Monday after a judge ruled that a jury can determine whether it should pay as much as $18 billion in damages to wildfire victims. The California utility giant fell as much 28%, to $10.22, at...
Court Says PG&E Has Sole Right to Submit Bankruptcy Plan
Aug 19 2019 // A federal judge has allowed PG&E Corp. to retain the sole rights to propose a plan to exit bankruptcy, as he rejected efforts by investors to put forward competing plans, according to court documents. Judge Dennis...
Edison International to Face Trial Over Woolsey Wildfire Claim in April
Aug 19 2019 // The first trial to determine if Edison International’s Southern California utility is liable for damages from the Woolsey wildfire that tore through Malibu last year will begin on April 27, a judge said. California...
Report: Re/Insurers Are Reconsidering Risk Appetite for California Wildfires
Aug 19 2019 // S&P Global Ratings says 2020 reinsurance pricing in the aftermath of California wildfires will likely rise as re/insurers are finding 2017-2018 losses from wildfires in that state to be higher than expected. The...
One of 86 Victims Of California’s Deadliest Wildfire Identified
Aug 19 2019 // One of 86 people who were killed in the deadliest wildfire in California history has been identified. The Butte County Sheriff’s office said on Friday it positively identified the remains of 68-year-old Judith Sipher...
California Workers’ Comp Committee Votes
Aug 19 2019 // for Drop in 2020 Pure Premium Filing The Workers’ Compensation Insurance Rating Bureau of California’s governing committee voted earlier this month to authorize the WCIRB to submit a Jan. 1, 2020, advisory pure...
California Leads Nation in SMB Cyber Insurance Adoption, Report Shows
Aug 19 2019 // California leads the nation in small to mid-size business cyber insurance adoption, according to a report released in early August by CyberPolicy. The report shows the highest annual premium in the state totaled more than...
Execs: Wholesalers at Center of Topa Plans After Acquisition of California Insurer
Aug 19 2019 // Two key executives involved in the acquisition of Topa Insurance Group by Altamont Capital Partners who spoke about the deal were emphatic about one thing: wholesalers will continue to be the center of the company’s...
California Manufacturer of Fire Protection Spray Sued for $5M
Aug 19 2019 // A $5 million lawsuit has been filed against a Los Angeles County company that sells a product it contends helps protect homes from wildfires. The Santa Barbara County district attorney and the Los Angeles city attorney...
Business Moves
Aug 19 2019 // National Altamont Capital Partners, Topa Insurance Group Altamont Capital Partners has signed a definitive agreement to acquire Calabasas, Calif.-based Topa Insurance Group from its long-time owner, Topa Equities Ltd. The...
