Latest California Headlines
All the headlines from our California Topic Page, ordered by recency.
Travelers Manages Q4 Profit Despite Wildfires, Tax Hit
Jan 23 2018 // Property/casualty insurance giant Travelers Companies Inc. reported net income of $551 million for the quarter ended December 31, 2017, a 42 percent drop compared to $943 million in the prior year quarter. The drop was...
California Commissioner Wants Insurers to Pass Tax Savings to Policyholders
Jan 23 2018 // California Insurance Commissioner Dave Jones wants insurers in his state to pass along savings from taxes expected to be generated by the new tax bill passed in Congress recently. “The recent revision to the Federal...
Leavitt Central Coast Insurance Services Acquires Pulford in California
Jan 22 2018 // Pulford Insurance Agency has been acquired by Leavitt Central Coast Insurance Services. The merger will not affect customer policies, and the same personnel will continue to serve clients, now at the LCCIS location in...
California City Sues over California Dam Crisis
Jan 22 2018 // A small California city at the base of the tallest U.S. dam filed a lawsuit last week against the state over an emergency that forced authorities to order 188,000 people to flee last year, arguing the crisis was caused by...
XL Group: Loss Estimates of $45M Related to Southern California Wildfires
Jan 22 2018 // XL Group Ltd. in mid-January announced preliminary estimates of natural catastrophe net losses of roughly $45 million related to the recent wildfires in Southern California and $20 million related to other events. The...
California Commissioner Issues Report on Fire Insurance Availability Issues
Jan 22 2018 // California Insurance Commissioner Dave Jones in mid-January released a report on the growing problem of homeowners fire insurance availability and affordability in many areas throughout the state. The report recommends...
California Wholesaler Conference Questions: Rising Premiums, Disruption, Disasters?
Jan 22 2018 // Surplus lines in California had a great year with more premium and more items, such as policies and endorsements sold. However, surplus lines brokers had to work harder for all that premium. That’s according to Ben...
People
Jan 22 2018 // Salt Lake City, Utah-based Leavitt Group Insurance Advisors has named Mike Scott a senior risk advisor and director of program business. Scott will focus on middle markets, large accounts, and hard-to-place specialty...
California Earthquake Authority Chief Talks About 1 Million Policies
Jan 18 2018 // Glenn Pomeroy, CEO of the California Earthquake Authority, is as enthusiastic of an earthquake policy salesman as you’ll find anywhere. Pomeroy has headed the state’s privately funded, publicly managed seller...
Lockton Adds Ring as Vice President in Northern California
Jan 18 2018 // Lockton has added David Ring in its Sacramento, Calif. office as a vice president. Ring will be responsible for client consulting and business development for employee benefits and commercial insurance. Ring has...
Insurers Increasing Payments to California Wildfire Victims Sans Itemization
Jan 18 2018 // California Insurance Commissioner Dave Jones on Thursday released the results of the formal notice he issued last month to all residential property insurers requesting they provide up to 100 percent of contents coverage...
Hard-hit California Town to Get Little Rain from Storm
Jan 18 2018 // Crews clearing mud and restoring utilities in Montecito, California, have another day of dry weather before the next chance of rain, but forecasters say the approaching system is weakening. The National Weather Service...
CAL Insurance Adds Boukhalil in Affluent Families Division in California
Jan 18 2018 // CAL Insurance & Associates Inc. has added Elian Boukhalil as an account manager. Boukhalil will work within CAL’s affluent families division. She was previously an intern with Publiscreen Online. Before that she...
Uber Finally Gets $1-per-Driver Pay Settlement in California
Jan 18 2018 // Though at first Uber Technologies Inc. didn’t succeed in settling a lawsuit by California drivers alleging labor-code violations, it tried and tried again. A Los Angeles state judge finally said on Tuesday...
A.M. Best Removes Pacific Compensation Insurance in California from Review
Jan 17 2018 // A.M. Best has removed from under review with developing implications and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Thousand...
California Utilities Sued Over Deadly Mudslides
Jan 17 2018 // Two utilities were sued Tuesday for the widespread destruction from last week’s deadly mudslides that were caused when hillsides ravaged by California’s largest wildfire let loose in heavy rain. An amended...
Cavignac & Associates in California Names Aceves Account Manager
Jan 16 2018 // San Diego, Calif.-based Cavignac & Associates has hired Brittany Aceves to serve as an account manager within the firm’s surety department. Aceves serves as the main point of contact for the agency’s surety...
California Commissioner and Legislators Unveil Wildfire Insurance Bills
Jan 16 2018 // California Insurance Commissioner Dave Jones and legislators from wildfire-damaged communities across the state unveiled eight bills and two additional legislative proposals proponents say will strengthen consumer...
Former California Hospital Owner Sentenced in $600M Workers’ Comp Scheme
Jan 16 2018 // The former owner of Pacific Hospital in Long Beach was sentenced to federal prison on Friday for running a $600 million workers compensation fraud scheme. Michael Drobot, 73, was sentenced Friday to 63 months in prison and...
California Mudslides: Residents Commit to Rebuilding
Jan 16 2018 // At the end of a heartbreaking week that saw deadly mudslides kill at least 20, residents of Montecito gathered to grieve, pay tribute to victims and commit to rebuilding their cherished community on the Southern California...
