Latest California Headlines
All the headlines from our California Topic Page, ordered by recency.
A.M. Best: Negative Rating Implications from Wildfires for California Capital And Subsidiaries
Dec 21 2018 // AM Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of California Capital Insurance Co. and its...
Power Restored to Last of 10K Paradise Residents Hit by California Wildfire
Dec 21 2018 // A Northern California utility says it has restored power interrupted by a wildfire six weeks ago to all customers able to receive it. Pacific Gas & Electric said this week the last of about 10,000 residents of Paradise...
Big Pharma Resuming U.S. Price Hikes in January After Pause: Reuters Report
Dec 21 2018 // Novartis AG and Bayer AG are among nearly 30 drugmakers that have taken steps to raise the U.S. prices of their medicines in January, ending a self-declared halt to increases made by a pharma industry under pressure from...
California Commissioner Pushing Insurer Fossil Fuel Divestment to The End
Dec 20 2018 // California Insurance Commissioner Dave Jones continues to push the fossil fuel divestment hot button right to the end of the year and his tenure as the state’s head insurance regulator. Jones this week released the...
California DMV Previews New Motor Vehicle Laws Coming in 2019
Dec 20 2018 // The California Department of Motor Vehicles this week issued a reminder of new laws or changes to existing laws going into effect Jan 1, 2019 that motorist and auto insurance professionals should be aware of. The new laws...
Assessing Wildfires’ Impact on P/C Insurers’ 2018 Results
Dec 20 2018 // Fitch Ratings said it expects the November wildfires in California to have some but not great impact on property/casualty insurers’ year-end results and it anticipates limited or no rating actions due to the fires....
Boy Scouts Face Insurance, Bankruptcy Challenges Over Sex Abuse Claims
Dec 20 2018 // It took Robb Lawson until he was 45 to finally confront a dark memory from his days as a Boy Scout. Lawson was a teenager at the time, a member of a troop in Georgia, picked to attend a wilderness challenge to win entry in...
California Hits 2 Companies with $4.3M Fine for Improperly Selling Workers’ Comp
Dec 19 2018 // California Insurance Commissioner Dave Jones on Wednesday imposed a $4.3 million penalty on American Labor Alliance and CompOne USA for selling workers’ compensation and liability policies to employers of farmworkers...
California’s 376 Fatal Occupational Injuries in 2017 Equals Previous Year, Report Shows
Dec 18 2018 // The California Department of Industrial Relations issued a report on Tuesday showing that 376 Californians died on the job in 2017, the same as in 2016. California’s workplace fatality rate remains stable with slight...
More Marijuana Products in California Passing Safety Tests
Dec 18 2018 // A higher percentage of California marijuana products are passing strict safety tests, but the sudden closing of a lab that state authorities found wasn’t correctly checking for pesticides has raised new questions...
Gorst & Compass Expands in Northern California, Adds Sholders
Dec 17 2018 // Gorst & Compass Insurance has expanded its Northern California operations with the opening of an office in Napa, Calif. and has named Katie Sholders, senior broker/underwriter in commercial lines, to open the...
California Regulators Say Utility Falsified Pipeline Safety Records
Dec 17 2018 // Regulators have accused one of California’s largest utilities of falsifying safety documents for natural gas pipelines for years following its criminal conviction and multimillion-dollar fine for a pipeline explosion...
Allstate’s Shares Fall Under Weight of Wildfire Losses
Dec 17 2018 // Allstate Corp. tumbled for nine straight days, the longest string of losses since 2001, as coverage costs from the deadliest fires in California’s history are tallied. The company seemed to have “out-sized...
Effect of Judge Ruling Affordable Care Act Unconstitutional Delayed for Appeal
Dec 17 2018 // Obamacare was struck down by a Texas federal judge in a ruling that casts uncertainty on insurance coverage for millions of U.S. residents, drawing sharp condemnation from some medical professionals and a vow for action by...
Deadly California ‘Firenado’ Explained in New Study
Dec 17 2018 // A rare fire tornado that raged during this summer’s deadly Carr Fire in Northern California was created by a combination of scorching weather, erratic winds and an ice-topped cloud that towered miles into the...
Report: Return on Net Worth for California Workers’ Comp Insurers Rose
Dec 17 2018 // A new report shows the average return on net worth for California workers’ compensation insurers rose to 9.9 percent in 2017, the fourth consecutive increase. The report comes from the National Association of...
Covering Cannabis in California
Dec 17 2018 // Most of the action on insuring legal cannabis in California is in the surplus lines marketplace. The legalization of cannabis in California created many opportunities for insurers to get in on the ground floor in covering...
Chiropractor in California Pleads Guilty in $150M Workers’ Comp Fraud Scheme
Dec 17 2018 // A Los Angeles, Calif., chiropractor has pleaded guilty to taking part in a $150 million workers’ compensation fraud scheme. Paul Turley of Granada Hills pleaded in early December to conspiracy to commit insurance...
People
Dec 17 2018 // NAS Insurance Services LLC has expanded its senior management team with several new appointments, including naming Marcus D’Anna chief financial officer. D’Anna’s appointment as CFO comes after five years...
Special Report: The Industry Industry Gives Back
Dec 14 2018 // Safety National Safety National proudly supports Variety the Children’s Charity of St. Louis, an organization that has been helping children with physical and developmental disabilities for more than 80 years. In...
