CDI News

Former California Agent Convicted for Embezzling Insurance Payments

Former insurance agent Wendy Judd, 47, of Madera, Calif., pleaded guilty this week to felony grand theft after embezzling over $20,000 of insurance premium payments from consumers. The California Department of Insurance launched an investigation after receiving a referral from …

Federal Court Won’t Intervene in Applied Underwriters Case Against California Regulator

A California federal court has declined to get involved with a lawsuit that Applied Underwriters and the California Insurance Co. filed against the California Department of Insurance. The case against the CDI is based upon a central claim that the …

Former California Agent Arraigned After Allegedly Stealing from Client

Formerly licensed insurance agent, Mandy Pruitt, 42, of Visalia, Calif., was arraigned today on one count of grand theft after she allegedly stole more than $4,400 from a client and used the money to pay for personal expenses. The alleged …

Task Force Nabs California Man for Insurance Fraud, Reporting False Vehicle Theft

Juan Camilo Vargas, 62, of Escondido, Calif., was arrested on multiple felony counts of insurance fraud and reporting a false vehicle theft after allegedly misrepresenting when and where his vehicle was stolen from in order to receive an undeserved insurance …

California Insurance Agent, Unlicensed Employee Arraigned for Alleged Fraud

Insurance agent Brenda Cervantes, 31, of Oxnard, Calif., and unlicensed employee Edith Arellano-Quinones, 39, of Ojai, were arraigned on Tuesday on misdemeanor counts of insurance fraud after allegedly selling auto insurance without proper licensing and putting their customers’ coverage and …

Some Changes to California’s FAIR Plan Could Go into Effect Early Next Year

Note: This has been updated with FAIR Plan comments below. Changes to the insurance plan offered by California’s property insurer of last resort could possibly go into effect as early as the next few months – that is if no …

AM Best Comments on California Insurance Co. Ratings Following Regulatory Action

AM Best on Wednesday said the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” of California Insurance Co. and its pooled insurance affiliates, collectively referred to as North American Casualty Group, remain under review …

California Agent Arrested for Allegedly Leaving Client Uninsured in 2018 Mudslides

California Department of Insurance detectives this week arrested insurance agent Mark Lynch, 40, on 13 felony counts of grand theft, embezzlement, and money laundering after allegedly collecting over $72,425 in insurance premium payments from five clients while leaving one client …

Court Orders California Insurance Company Conserved in Another Round in Applied Battle

Note: This story has been updated with a response from an Applied spokesman describing the actions by the California Department of Insurance as “an unusual Draconian attempt.” A San Mateo County Superior Court on Monday evening issued an order appointing …

New Mexico Explains Role in Enabling Applied Underwriters Sale

The growing drama behind the $920 million sale of Berkshire Hathaway-owned Applied Underwriters to its founder Steven Menzies got another voice added to the story. The New Mexico Office of Superintendent of Insurance on Thursday said New Mexico facilitated the …