Latest California Headlines
All the headlines from our California Topic Page, ordered by recency.
Industry Douses Consumer Group Praise for Prior Approval of Auto Rates
May 5 2008 // A nationwide consumer study of automobile insurance regulation says that rates have risen more slowly over the past two decades in the 15 states that require insurers to receive advance approval of rate increases from the...
Consumer Group Alleges New Rules Will Raise Insurance Rates in Calif.
May 2 2008 // A consumer group this week accused California Insurance Commissioner Steve Poizner of adopting emergency regulations that would lead to higher rates for auto, homeowner and most other types of insurance coverage. In a...
Magnitude-5.2 Earthquake Hits Northern California
May 1 2008 // A moderate earthquake hit a mountainous region of Northern California on Tuesday night. There are no immediate reports or injury or damage. The magnitude-5.2 temblor struck at 8:03 p.m., centered about 11 miles southeast...
Allstate to Comply with Order to Lower Calif. Auto Rates by 15.9%
May 1 2008 // California automobile insurance units of Allstate Corp. will lower rates by 15.9 percent by a May 12 deadline, complying with an order by the state’s insurance regulator that it had challenged, a company spokesman...
Homes, Schools Threatened as Fires Scorch Nevada, Arizona and California
May 1 2008 // Firefighters had to contend with gale-force winds while battling a huge brush fire that raced along the edge of a valley south of Reno, forcing a major highway to close, threatening homes, and causing the evacuation of a...
Insurers Boost California Economy By $27.3 Billion
Apr 29 2008 // California has a $1.6 trillion economy that ranks it as a global financial power, thanks in part to a multi-billion dollar boost from the insurance industry, according to a new report by the Insurance Information Network...
Auto Fraud Suspect Arrested in California
Apr 29 2008 // A Desert Hot Springs, Calif., resident was arrested for allegedly defrauding his insurance company of $26,000, the California Department of Insurance reported. Robert Andrew Nelson, 44, was arrested in Cathedral City,...
100 Homes Evacuated as Wildfire Burns Near Pasadena, Calif.
Apr 28 2008 // A wildfire that has scorched 270 acres and forced the evacuation of about 100 homes in neighborhoods near Pasadena might not be under control for days, officials said Sunday. Firefighters originally had hoped to have the...
Lloyd’s Lord Levene’s L.A. Speech Lauds London
Apr 28 2008 // Lloyd’s Chairman Lord Levene told an audience of around 100 business executives in Los Angeles on Friday that London’s strengths as a leading global financial center have not been diminished by the credit...
California Court Denies Allstate’s Request to Avoid $250 Million Rate Reduction
Apr 25 2008 // A San Francisco judge has refused Allstate’s request to block a 15.9 percent automobile insurance rate decrease. According to the California Department of Insurance, the rate decrease should take effect immediately,...
Agent Charged for Defrauding Businesses $2.5 Million-Plus
Apr 24 2008 // An insurance agent was arrested in California for defrauding 18 business owners by stealing more than $2.5 million in money they had paid him to take out insurance policies for their businesses, the California Department...
BB&T Insurance Services To Acquire Union Bank of California Brokerage
Apr 24 2008 // Raleigh, N.C.-based BB&T Insurance Services has reached an agreement with Union Bank of California North America to purchase its San Diego-based insurance subsidiary, UnionBanc Insurance Services Inc. The acquisition...
Zenith National Insurance Reports $41.9 Million Q1 income
Apr 24 2008 // Woodland Hills, Calif.-based Zenith National Insurance Corp. (NYSE: ZNT) reported net income for the first quarter 2008 of $41.9 million, or $1.12 per share, compared to net income for the first quarter 2007 of $64.5...
Consumer Group Criticizes California’s Rate Approval Regulations
Apr 24 2008 // A consumer advocacy group is condeming California Insurance Commissioner Steve Poizner’s action in issuing emergency regulations governing the state’s prior approval insurance rate system. According to The...
Survey: Majority of October’s California Wildfire Claims Settled
Apr 23 2008 // A new survey of insurance companies estimates that nearly 90 percent of claims stemming from the devastating October 2007 fire and wind storms in California have been settled. A poll by the Insurance Information Network of...
Recession, Soft Market Forcing Western Agents to Refocus
Apr 22 2008 // Whether the nation is in a true recession may still be up for debate, but it’s difficult to ignore the signs of economic slowdown throughout the West — and its effect on the insurance industry. New home...
California Aims To Improve Insurance Rate Approval Process
Apr 22 2008 // California Insurance Commissioner Steve Poizner has issued emergency regulations to clarify and streamline the prior approval rate system. The regulations are designed to make the rate filing process more efficient,...
American E&S Appoints Broker in Vacaville, California
Apr 22 2008 // Carole Brown has rejoined American E&S Insurance Brokers as vice president and financial services broker. She will be working in the Vacaville, Calif., branch and has more 15 years experience specializing in directors...
Scientists Say Midwest Earthquakes Poorly Understood
Apr 22 2008 // Scientists say they know far too little about Midwestern seismic zones like the one that rumbled to life under southern Illinois Friday (April 18) morning, but some of what they do know is unnerving. The fault zones...
Business Moves
Apr 21 2008 // Hull & Co., Big Sky Underwriters, Powers & Co. Hull & Co. Inc. acquired substantially all of the assets of Missoula, Mont.-based Big Sky Underwriters Inc. “The people of Big Sky are well respected in...
