The California Department of Insurance today stepped in and conserved Paula Insurance Co., a move that was expected due to the insurers exhausted financial shape.After the company reported a negative policyholder surplus of $22 million as of Dec. 31, the DOI had no choice to seize the company. Due to poor workers comp results, Paula recently announced that it was ceasing writing new and renewal business.The state insurance commissioner today obtained the conservation order from the
Read More...
