Latest California Headlines
All the headlines from our California Topic Page, ordered by recency.
ISO: Insurers to Pay $6.5 Billion in 2007 Catastrophe Claims
Jan 14 2008 // U.S. property/casualty insurers are expected to pay homeowners and businesses $6.5 billion for 2007 property losses from 23 catastrophes — the eighth lowest cost in a decade and the seventh lowest frequency for the same...
Genstar Capital, Execs Create National Brokerage for Hispanic Consumers
Jan 14 2008 // San Francisco-based Genstar Capital LLC, a middle market private equity firm, has partnered with insurance industry executives and Westline Corp. to establish Confie Seguros, a platform company formed to facilitate the...
Deregulation Pushing Banks Into Insurance Industry
Jan 13 2008 // As the financial services industry has evolved since deregulation, there has been a rise in “bancassurance: the joint effort of banks and insurers to provide insurance services to the bank’s customer...
People
Jan 13 2008 // ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, appointed John Nilson senior vice president, western region for ACE Risk Management. Nilson will be based in Los Angeles and oversee ARM...
Fraud Roundup
Jan 13 2008 // ‘Rent-a-Patient’ Doctor Sentenced to Nearly Five Years A doctor who paid patients so he could carry out unnecessary surgeries and then bill insurance companies for the work has been sentenced in Los Angeles to...
Industry, Residents Assessing West’s Winter Storm Damage
Jan 13 2008 // While it’s too soon to tally insured loss estimates from early winter storms that struck the West in January, residents who fled their homes due to flooding are facing damages, all while the National Weather Service...
Lloyd’s GCube Promotes Growth in Renewable Energy Sector
Jan 11 2008 // “GCube, the insurance entity spun out of Lloyd’s managing general agency WindPro, has opened its doors to business on both sides of the Atlantic,” notes a bulletin on the Lloyd’s web site...
Southern California Wildfire Losses Could Reach More than $2 Billion
Jan 11 2008 // The California Department of Insurance announced that since the wildfires broke out in Southern California in October 2007, 37,117 claims have been filed, and 1,531 of those claims are known to be total losses, with an...
California State Fund Offers Credit Extension to Storm Victims
Jan 10 2008 // California’s State Compensation Insurance Fund announced it will extend credit to policyholders who have suffered a financial loss or business disruption caused by recent wind and rainstorms that struck the counties...
West Storm Losses Could Reach $600 Million
Jan 10 2008 // Catastrophe risk modeling firm Air Worldwide estimates insured losses from the recent west coast winter storm that occrred January 4-8 could reach as high as $600 million, with the vast majority of those losses in...
California Governor To Propose Homeowners, Business Property Insurance Policy Tax
Jan 10 2008 // California Gov. Arnold Schwarzenegger is expected to propose a 1.25 percent tax on homeowners and business property insurance policies when he unveils his state budget today. “The expected proposal will unfairly...
Sequoia Insurance Offers California Agribusiness Program
Jan 9 2008 // Monterey, Calif.-based Sequoia Insurance Co., has introduced Agricultural Edge, a program designed in partnership with California agents to serve California agribusiness. Target markets include many of the Golden...
Residents, Industry Analysts Evaluating Western Storm Damage
Jan 8 2008 // While it’s too soon to tally insured loss estimates, Nevada residents who fled nearly 300 homes flooded when a canal’s earthen bank collapsed are returning to their homes where they will face damage left by the...
Hub International Acquires JRN Benefits
Jan 7 2008 // Hub International Ltd. announced that Hub International of California Insurance Services Inc. (HUB California) has acquired JRN Benefits, Inc. Financial terms of the acquisition were not disclosed. Based in Santa Barbara,...
Authorities Fear California Rains Could Trigger Mudslides, Flooding
Jan 4 2008 // Southern California homeowners still struggling to rebuild their lives after last fall’s wildfires are preparing for downpours that could bring more than a foot of rain to some mudslide-prone mountain canyons. A trio...
Top Insurance Stories in 2007 in the West
Dec 31 2007 // While 2007 was a surprisingly calm year for hurricanes, that doesn’t mean Mother Nature didn’t have a tantrum or two. In 2007, the West faced its share of disasters, with freezes, floods and fires making news...
Winds Prompt Renewed Southern California Fire Watch
Dec 31 2007 // Dry, gusty winds expected to blow through Southern California prompted weather officials to warn that parts of the region would be under increased risk of fire starting New Year’s Eve. The “fire weather...
California Workers’ Comp Insurer Makes HR Promotion
Dec 31 2007 // Susan Lynch has been promoted to manager of California State Compensation Insurance Fund’s Employee Assistance Program (EAP) in Human Resources. EAP helps State Fund employees address personal issues and maintain...
BB&T Broker McGriff, Seibels & Williams Names Senior VP
Dec 28 2007 // McGriff, Seibels & Williams of Irvine, Calif., a BB&T Co. broker has appointed Timothy J. Mooney senior vice president in its Northern California operations. Mooney has more than 20 years of insurance experience...
California Workers’ Comp Insurer Promotes Two
Dec 27 2007 // California’s State Compensation Insurance Fund has appointed Chris Reyes regional assistant real estate manager for Central Valley operations, and Yvette Montano-Anda claims manager for Los Angeles Claims...
