Latest California Headlines
All the headlines from our California Topic Page, ordered by recency.
Rodney Pierson
May 23 2005 // Twig Branch Seattle, Wash.-based Physicians Insurance A Mutual Company has announced that Rodney A. Pierson has been named senior vice president, CFO and treasurer. Pierson’s long history in finance includes his...
AUTHOR PULLS BILL MANDATING CALIF. INSURER COMMUNITY INVESTMENTS:
May 23 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 relating...
CALIF. ASSEMBLY INSURANCE COMMITTEE APPROVES CREDIT-BASED INSURANCE SCORING BILL:
May 23 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 23 2005 // IBA West submitted written testimony expressing strong opposition to the revised “Broker Fiduciary Duties” regulations proposed by California Insurance Commissioner John Garamendi. “While these...
News Briefs
May 23 2005 // JURY REACHES PARTIAL VERDICT IN EXECUTIVE LIFE CASE: A jury reached a partial verdict in the case involving the illegal takeover of failed insurer Executive Life Insurance Company on May 9, according to the Associated...
PIFC: California Commissioner’s Proposed Homeowner Regs Flawed
May 23 2005 // There is not one statute in the entire Insurance Code of California that authorizes the insurance commissioner to adopt a proposed set of homeowners’ insurance regulations submitted to the Office of Administrative...
PIFC: California Commissioner’s Proposed Homeowner Regs Flawed
May 23 2005 // There is not one statute in the entire Insurance Code of California that authorizes the insurance commissioner to adopt a proposed set of homeowners’ insurance regulations submitted to the Office of Administrative...
California’s State Fund Seminar on Workers’ Comp Fraud Draws Kern County Employers
May 20 2005 // As part of its commitment to fight workers’ compensation insurance fraud, State Fund held a seminar May 18 at the Valley Plaza’s Pacific Theatre where more than 200 Kern County employers heard State Fund and...
San Jose Chain Store Owners Plead Guilty in Workers’ Comp Scam
May 20 2005 // A San Jose, California husband and wife have pled guilty to charges of workers’ compensation premium fraud and will serve 14-month jail sentences and pay $2 million in restitution following a multi agency...
Independent Banks Partner to Save on Calif. Workers’ Comp Costs
May 19 2005 // Facing ever-increasing workers’ compensation costs, a group of California banks received approval from the FDIC and filed an application with the State of California to form a self-insurance group (SIG) and is...
CDI Reveals Former Highland Framers Owners Sentenced to 3 Years in Prison, $3.1M Restitution
May 19 2005 // Investigators announced that Jay Neal Wright, 52, a former Bay Area businessman and owner of Highland Framers of Northern California Inc., was formally sentenced in Alameda County Superior Court to three years in state...
Insurers Lose in Stringfellow Acid Pits Jury Trial
May 18 2005 // Insurance companies must pay to clean up a hazardous waste dump, the Stringfellow Acid Pits. A Riverside County, California jury on May 16, 2005 found in favor of the State of California and against CNA, Wausau, Yosemite,...
Calif. Contractor Sentenced in Workers’ Comp Fraud Case; Will Pay State Fund $605,940
May 17 2005 // The owner of a Corona, California-based construction firm has begun serving a two-year jail sentence as part of his conviction on felony workers’ compensation insurance fraud. Lawrence S. Hatfield, 59, of Orange...
Calif. Woman Pleads Guilty to Felony Charge in Workers’ Comp Fraud Case
May 17 2005 // Sandra Canas, a resident of Daly City, California, pleaded guilty on May 11 to a felony charge of workers’ compensation insurance fraud. Canas was arrested on Nov. 10, 2004, by investigators from the California...
NAIC Reports California Workers’ Comp Finally Moved into the Black in 2003
May 17 2005 // Last month, the National Association of Insurance Commissioners (NAIC) released its “Report on Profitability by Line by State” for calendar year 2003 (see CWCI Bulletin 05-07). The NAIC report provides...
ACIC Opposes Extending Low-Cost Auto Insurance Program
May 16 2005 // Without first conducting a thorough evaluation, it is premature to expand California’s low-cost auto insurance program from two counties to the entire state, according to the Association of California Insurance...
ACIC Elects Board Members
May 13 2005 // Members of the Association of California Insurance Companies (ACIC) have elected Cinda Smith, senior counsel at GEICO, as chair at the organization’s recent annual meeting, according to ACIC President Sam...
Three Suspects Arraigned on Premium Fraud Charges
May 12 2005 // Three suspects were arraigned May 11 in Ventura County Superior Court in connection with a workers’ compensation premium fraud investigation conducted by the California Department of Insurance Fraud Division. Tomer...
Iglesias and Browne Join Burns & Wilcox Modesto
May 11 2005 // Burns & Wilcox appointed Lorraine Iglesias and Margaret Browne as senior underwriters for the company’s new service center in Modesto, California. Iglesias and Browne will be responsible for the production and...
Jury Reaches Partial Verdict in Executive Life
May 11 2005 // A federal judge on May 9 said a jury has voted on seven of eight verdict forms in a case against a group of French investors in connection with the illegal takeover of failed insurer Executive Life. U.S. District Court...