Latest California Headlines
All the headlines from our California Topic Page, ordered by recency.
Former California Insurance Broker Goes to Jail
May 9 2005 // Former Vallejo insurance broker Jimmie Earl Jackson, who pled guilty to felony grand theft in Solano County Superior Court May 5, was sentenced to 180 days in County Jail and ordered to serve three years of formal...
Western Agencies Keep it All in the Family
May 9 2005 // Mom and pop” retail agencies have always been a vital component of the insurance world, and many of them still exist today. Sons, daughters, grandsons and granddaughters are able to continue family traditions as...
Abram Interstate Offers HO and Dwelling Product for Calif.
May 9 2005 // Abram Interstate Insurance Services, Inc. of Rocklin, Calif. recently announced a new preferred and standard Homeowners and Dwelling Fire market with Travelers Insurance Company. This new market is an admitted market that...
California Legislature Takes Action on Several Insurance-Related Bills
May 9 2005 // The California legislature took action on several insurance-related bills recently, including a controversial bill dealing with the issue of broker compensation. SB 938 (Dunn) would “require that an agent or broker...
Former Calif. Agent, Employee Arrested
May 9 2005 // A former California insurance agent and her employee were arrested for allegedly stealing and not remitting premiums to insurance companies of more than $3,000 from victims purchasing automobile insurance policies. Yvette...
SB 899 MAKES A DIFFERENCE TO WORK COMP SYSTEM:
May 9 2005 // April 19 marked the anniversary of the signing of SB 899, the third of three significant workers’ compensation reform measures enacted during the past few years by California’s elected officials. Together,...
On the Issue of Agent/Broker Compensation & Contingencies
May 9 2005 // The PIA Western Alliance has always supported vigorous insurance oversight and penalties should be imposed when agents or brokers break the law. As an association we regularly school our members to make sure their...
Author Pulls Bill Mandating California Insurer Community Investments
May 6 2005 // The author of a California bill that would mandate insurer community development investments, withdrew the bill from consideration for this legislative session. Assemblyman Mark Ridley-Thomas, will not pursue AB 925...
Calif. Assembly Ins. Committee Approves Credit-based Insurance Scoring Bill
May 5 2005 // The American Insurance Association praised the California Assembly Insurance Committee May 5 for approving a measure implementing a modification of the national model law on the use of credit-based insurance scores...
IBA West Submits Testimony Opposing Revised Proposed ‘Broker Fiduciary Duties’ Regulations
May 5 2005 // IBA West submitted written testimony expressing strong opposition to the revised “Broker Fiduciary Duties” regulations proposed by Insurance Commissioner John Garamendi this week. “While these regulations...
Estrada New President for U.S.I.’s Northern Calif. Operation
May 5 2005 // U.S.I. Holdings Corporation announced the appointment of David E. Estrada as president of its Northern California operation. Through its Northern California operation, USI is a distributor of insurance and financial...
NCCI State of the Line Report: Workers’ Comp Combined Ratio Best Since 1997
May 5 2005 // The workers’ compensation calendar year combined ratio dropped four points to 105 percent, the best performance for the first time since 1997, according to NCCI Holdings Inc.’s State of the Line preliminary...
A.M. Best Assigns Rating to California Insurance Co.
May 4 2005 // A.M. Best Co. has assigned a financial strength rating of A- (Excellent) to California Insurance Company (CIC) (San Francisco, Calif.), a wholly-owned subsidiary of Applied Underwriters Inc. (AUI) (Omaha, Neb.). The rating...
Calif. Broker Arrested on Seven Counts of Grand Theft
May 4 2005 // Insurance broker Robert Stephen Rice, 56, was arrested on seven felony counts of grand theft at his home in Thousand Oaks, Calif., by the California Department of Insurance (CDI) Fraud Division. The arrest is the result of...
Calif. Credit Regulation Bill Passes First Committee
May 4 2005 // Legislation sponsored by the Association of California Insurance Companies (ACIC) to impose strong regulation of the use of credit information by homeowners insurers passed its first committee test today. The bill, AB 1454...
ACIC: Costly, Anti-Consumer Bill Passes Calif. Committee
May 4 2005 // The Senate Judiciary Committee has approved legislation that would shift Medi-Cal costs – and insurance rate hikes – to all forms of liability insurance, such as homeowners and automobile coverage, according to...
Calif. Legislative Committee Takes Correct Action on Producer Requirements
May 3 2005 // California legislators have issued a “sharp rebuke” of Insurance Commissioner John Garamendi’s efforts to impose new requirements on agents and brokers, according to the National Association of Mutual...
Mercury General Corporation Announces 1Q Results
May 2 2005 // Los Angeles-based Mercury General Corporation reported net income of $60.4 million, or $1.10 per share (diluted), in the first quarter 2005 compared with $68.8 million, or $1.26 per share (diluted), in the same period for...
Sponsor Pulls Bill Mandating California Insurer Community Investments
May 2 2005 // The sponsor of a California bill that would mandate insurer community development investments, withdrew the bill from consideration by this legislative session. Assembly Member Mark Ridley-Thomas, will not pursue AB 925...
Former Calif. SCIF President Webb Passes Away; Worked at SCIF For More than 36 Years
May 2 2005 // Former State Fund President Jack Webb – one of the most influential and colorful figures in the 91-year history of California’s workers’ compensation insurance system – died May 2nd. Webb had been...
