The Senate Banking, Finance and Insurance Committee today passed an Assembly bill with amendments that strip State Compensation Insurance Fund of its enhanced investment authority and give the governor greater leeway to remove the State Fund president. Jim Tudor, acting president of the quasi-governmental insurer, told the committee today that SCIF would respond to the amendments by dropping its lawsuit against the California Department of Insurance, a case State Fund has spent $1.8 million litigating.
Read More...
