Latest California Headlines

Calif. State Fund: Getting Better Day by Day

Nov 3 2010 // In the ever controversial topic of workers’ compensation insurance in California, State Compensation Insurance Fund President and CEO Tom Rowe seemingly offers a bit of Zen. Rowe, who took the helm of the company in...

Business Moves

Nov 1 2010 // Aon, Hewitt Associates Aon Corp. said it will cut 1,500 to 1,800 jobs over the next three years after acquiring Hewitt Associates. Aon expects to save $355 million per year, including $280 million per year by eliminating...

Calif. Iranian Investment Regs Ruled Improper

Nov 1 2010 // The California Office of Administrative Law has ruled that state Insurance Commissioner Steve Poizner’s Iranian investment regulations were improper. Earlier this year, the California Department of Insurance...

Fire Surcharge X-ed Out of Calif. Budget

Nov 1 2010 // For the third year in a row, California Gov. Arnold Schwarzenegger’s proposal to impose a 4.8 percent statewide surcharge on all residential and commercial property insurance premiums for fire suppression efforts did...

Calif. State Fund: Getting Better Day by Day

Nov 1 2010 // Agents, Brokers Will Have Even Bigger Part in State Fund’s Distribution Strategy In the ever controversial topic of workers’ compensation insurance in California, State Compensation Insurance Fund President and...

It Figures

Nov 1 2010 // $300,000 Amount members of the Independent Insurance Agents and Brokers of Washington have put toward the campaign to pass Washington voter initiative I-1082. The initiative would open up the state workers’...

Insurers Boost Calif. Economy By $30.1 Billion

Oct 28 2010 // California has a $1.85 trillion economy that ranks it as a global financial power, thanks in part to a multi-billion dollar boost from the property/casualty insurance industry, according to a new report. In 2007, insurers...

Number of Californians Hit by Cars Jumps 25% On Halloween

Oct 28 2010 // The number of people in California hit by cars jumps 25 percent on Halloween versus the rest of October, according to Allstate Insurance Co. The insurer recently looked at its California auto insurance claims involving...

Insurer Challenges Jackson Doctor’s Legal Bills in Texas Court

Oct 22 2010 // An insurer for the doctor charged in Michael Jackson’s death has asked a judge to rule that it is not responsible for the physician’s legal bills in two high-profile court cases and fights to retain his medical...

California Commissioner Hopeful: Assemblyman Mike Villines

Oct 21 2010 // The election for California Insurance Commissioner is a weighty one. The person selected will be in charge of regulating the approximately 1,500 insurance companies doing business in the state. Assemblyman and Republican...

California Commissioner Hopeful: Assemblyman Dave Jones

Oct 21 2010 // On November 2, Californians will select a new insurance commissioner, charged with regulating the fourth-largest insurance market in the world at about $160 billion. Assemblyman and Democrat Dave Jones recently shared why...

Record 7.7M Expected to Participate in Calif. Earthquake Drill

Oct 21 2010 // More than 7.7 million people are expected to shake, drop, cover and hold on in the country’s largest earthquake drill in history. The Great California ShakeOut is an earthquake drill in which participants practice...

The Rule Co.’s Titus Named President of SoCal Golf Association

Oct 20 2010 // Steve Titus, president and chief operating officer of Pasadena, Calif.-based The Rule Co., has been elected the 86th president of the Southern California Golf Association. A graduate of University of Southern California...

CVS To Pay Record Fine for Selling Meth Ingredient

Oct 19 2010 // CVS, the nation’s largest operator of retail pharmacies, announced it has agreed to pay $75 million in fines for allowing repeated purchases of pseudoephedrine that led to a spike in Southern California drug...

Sevilla Appointed New CFO at California State Fund

Oct 19 2010 // Former California State Compensation Insurance Fund Chief Financial Officer, Jay Stewart, has resigned for a CFO position at CAMICO Insurance Co. in Redwood Shores, Calif. State Fund’s board of directors has ratified...

Industry Giving Aids Republican in California Insurance Chief Race

Oct 18 2010 // The insurance industry has given more than $1.5 million in indirect contributions to support the Republican candidate for state insurance commissioner, drawing criticism that it is trying to buy influence without being...

A Franchise Model for Insurance Agencies

Oct 18 2010 // Fiesta Auto Insurance Combines Insurance and Tax Preparation Services Under One Roof Modeling an insurance agency business after a sandwich shop might sound like a strange idea, but that’s what John Rost, founder,...

Declarations

Oct 18 2010 // Inflationary Increase “The previous $15 million capital and surplus requirement has been in place since the ’90s, so is not near as meaningful in guaranteeing financial solvency of surplus line insurers today....

Oct 18 2010 // 100 Number of days past a July deadline the California Legislature took to pass a budget. Legislative action was stalled when Democrats and Republicans couldn’t agree on areas to reduce spending to close the $19...

California’s Commissioner Hopefuls

Oct 18 2010 // Unlike many voters, the hundreds and thousands of independent insurance agents and brokers in California know the November 2 election will be a pivotal one. After all, on that day, Californians will select a new insurance...