This is an interesting development. I assumed that Berkshire own the company until the sale is official, I am not sure the specific reason that the Department is not approving the sale. I realize it is turning into this battle of wills, but I do not really understand why the California DOI did not approve the sale 6 months ago. If any one has insights, please share.
California finally realizes that it didn’t properly supervise Applied and that bad things happened. As their guarantee funds have learned the hardway in WC, CA will ultimately have to pay to cover the hole left by Applied. Well and good to sweep the errors of the past under the rug, but CA is sick of being stuck with the tab (see AmTrust/Tower)
This is an interesting development. I assumed that Berkshire own the company until the sale is official, I am not sure the specific reason that the Department is not approving the sale. I realize it is turning into this battle of wills, but I do not really understand why the California DOI did not approve the sale 6 months ago. If any one has insights, please share.
California finally realizes that it didn’t properly supervise Applied and that bad things happened. As their guarantee funds have learned the hardway in WC, CA will ultimately have to pay to cover the hole left by Applied. Well and good to sweep the errors of the past under the rug, but CA is sick of being stuck with the tab (see AmTrust/Tower)
@FOMO, your explanation is not even remotely accurate. Maybe you should gather all the relevant facts before you spit out utter nonsense.
California is completely dysfunctional.
Like the IG report on the FBI, you are either incompetent or purposely spreading lies.