Latest California Headlines
All the headlines from our California Topic Page, ordered by recency.
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...
People
Apr 21 2008 // Novato, Calif.-based Fireman’s Fund Insurance Co. named Michael LaRocco president and CEO. He will report to Chuck Kavitsky, president and CEO of Allianz of America, parent of Fireman’s Fund, and will also...
Declarations
Apr 21 2008 // P/C Consolidation “The logic of consolidation within the property and casualty industry, particularly in North America, may be gaining favor as the economy slows and as rates soften. However, our research suggests...
California Legislature Considers Changes to State Fund
Apr 21 2008 // California’s Legislature is considering changes to operations of the state’s largest workers’ compensation insurer. Senate Bill 1145 was recently heard by the Senate Banking, Finance and Insurance...
New Markets
Apr 21 2008 // The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Liquor Liability Coverage Nuts &...
San Francisco Hosts 100th Earthquake Conference, Predicts What If Scenarios
Apr 18 2008 // More than 2,500 delegates from around the world gathered in commemoration of San Francisco’s 1906 earthquake at the 100th Anniversary Earthquake Conference — the largest earthquake conference ever held —...
California Judge Approves Ford Explorer Settlement
Apr 17 2008 // A California judge on Tuesday approved the settlement of a class-action lawsuit that will compensate about 800,000 Ford Explorer owners whose vehicles lost value because of a perceived rollover danger. The settlement ends...
California Earthquake Authority To Use New Science in Determining Rates
Apr 16 2008 // The California Earthquake Authority (CEA) announced today it will begin using a newly released, uniform scientific method in determining insurance rates and the most accurate prices for consumers. Partially funded by the...
