Latest California Headlines
All the headlines from our California Topic Page, ordered by recency.
Consumer Federation Says Prior Approval Works, Industry Says Not True
May 5 2008 // A nationwide consumer study of automobile insurance regulation says rates have risen more slowly in the 15 states that require insurers to receive advance approval of rate increases from the state in the past two...
Business Moves
May 5 2008 // BB&T Insurance Services, Union Bank of California Raleigh, N.C.-based BB&T Insurance Services reached an agreement with Union Bank of California North America to purchase its San Diego-based insurance subsidiary,...
It Figures
May 5 2008 // 204 The number of jobs Nationwide Insurance announced it would be cutting from its Portland, Ore., offices, as part of a plan to eliminate certain departments. Company spokesman Joe Case said more than 300 employees will...
Business Moves
May 5 2008 // NSM Insurance, Insurex NSM Insurance Group, a national wholesaler and program manager based in Conshocken, Pa., has acquired Insurex, a California-based workers’ compensation brokerage. The acquisition...
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...
