Latest California Headlines
All the headlines from our California Topic Page, ordered by recency.
Danielson Holding Corp. Reports $14.33M Loss on Revenues of $94.1M
Apr 3 2002 // Danielson Holding Corporation reported a loss of $14.33 million ($0.74 per diluted share) on revenues of $94.1 million for the year ended Dec. 31, 2001, compared with income of $1.03 million ($0.05 per diluted share) on...
Calif. Workers’ Compensation Medical Payments on the Rise
Apr 3 2002 // The average medical payment per workers’ compensation claim in California has been increasing significantly in recent years mainly as a result of more visits to non-hospital providers and rising hospital costs,...
NAII Labels Efforts to Revise Low Cost Calif. Auto Program irresponsible and premature
Apr 1 2002 // A legislative effort to save California’s experimental low cost auto insurance program is not based on sound insurance principles and could encourage thousands of California drivers to be chronically underinsured...
CDI Investigates Philadelphia Resident Caught in Auto Fraud Scheme
Apr 1 2002 // The California Department of Insurance (CDI) announced the arrest of John Martin in his residence by the Philadelphia Police Department Felony Warrant Detail. The arrest warrant was issued on Feb. 5 in Orange Superior...
CalFarm to Pay $2.6M for Allegedly Deceiving Former Employee
Mar 28 2002 // CalFarm Nationwide Insurance has been ordered to pay $2.6 million to a former Sacramento resident after a jury found the company guilty of allegedly deceiving the man into relocating to California to take on a position,...
A.M. Best Lowers Rating for Crusader Insurance, Assigns Negative Outlook
Mar 28 2002 // A.M. Best Co. has lowered the financial strength rating to A- (Excellent) from A (Excellent) for California-based Crusader Insurance Co., Woodland Hills, Calif., and assigned it a negative outlook. The rating action...
PAULA Financial Subsidiary to Exit Workers’ Comp
Mar 25 2002 // PAULA Financial announced that its underwriting subsidiary, PAULA Insurance Company, will voluntarily cease underwriting workers’ compensation business effective immediately. The decision comes as a result of claims...
Insurance Fraud: A Perpetual Bane for Industry, Consumers
Mar 25 2002 // Since the insurance industry’s inception, fraud has proved a perpetual problem, an inherent risk that will likely never be totally eliminated. Carriers have long warned that fraud ultimately causes them to raise...
Insurance Fraud: A Perpetual Bane for Industry, Consumers
Mar 25 2002 // Since the insurance industry’s inception, fraud has proved a perpetual problem, an inherent risk that will likely never be totally eliminated. Carriers have long warned that fraud ultimately causes them to raise...
Credit Lyonnais Decision Still on Hold
Mar 25 2002 // Even though Jeffrey Isaacs, the assistant U.S. Attorney in the Los Angeles office, has been urging that the French Bank Credit Lyonnais (CL) be indicted for several allegedly illegal acts involving its takeover of...
Retroactive Premium Tax to be Reviewed by Calif. Office of Admin. Law
Mar 25 2002 // According to the American Insurance Association (AIA), the California Office of Administrative Law (OAL) has accepted their request to review the California Department of Insurance’s (CDI) recent retroactive premium...
Mendoza Campaign Calls for Meaningful Reform
Mar 22 2002 // Gary Mendoza, GOP Nominee for California Insurance Commissioner, re-issued his call for state legislation prohibiting Insurance Commissioners and candidates for the Office of Commissioner from accepting campaign...
Fremont General Reports Profit, Studying Sale
Mar 21 2002 // California-based financial services company Fremont General Corp. has reported a fourth-quarter profit, moving from a loss from a year earlier, when it recorded large losses in its workers’ compensation insurance...
Divorce Leads Calif. Man to Fraud Arrest
Mar 19 2002 // On March 12, 2002, investigators with the California Department of Insurance (CDI) Criminal Investigations Branch’s Fraud Division arrested Jamel Hassan Nichols, 33, for insurance fraud. According to investigators,...
CDI Commissioner Conserves National Automobile & Casualty Company
Mar 18 2002 // California Insurance Commissioner Harry Low has conserved National Automobile & Casualty Insurance Company as a result of its insolvency. Domiciled in California and headquartered in Pasadena, the company is a wholly...
NAII Testifies In Opposition to Calif. Accident History Regulation Proposal
Mar 15 2002 // A proposed regulation that would restrict an insurance company’s access to information about accident history would make it difficult for California carriers to be certain that an individual is entitled to a good...
Mendoza Challenges Garamendi Not to Take Company Contributions
Mar 8 2002 // Having captured the Republican Party’s nomination for California Insurance Commissioner with 42 percent of the vote March 5, Gary Mendoza, former California Corporations Commissioner, is challenging his November...
Calif. AB 5 Revised to Ban Credit-Scoring
Mar 7 2002 // A California Senate bill amended recently would prohibit insurance companies’ use of credit-based insurance scores, which would force the vast majority of consumers to pay higher premiums, according to the National...
AAI Objects to Calif. Limits on Considering Persistency in Auto Rating
Mar 7 2002 // Alliance of American Insurers has submitted written testimony objecting to proposals by the California Insurance Departments to ban the use of “persistency” as a factor for setting auto insurance...
Garamendi, Mendoza to Square Off in November
Mar 6 2002 // A pretty decisive victory on the Democratic side, while the Republican race proved much closer than many analysts expected. Just another day in California politics. In the race for California Insurance Commissioner, former...
