Applied Underwriters is asking the New Mexico Office of the Superintendent of Insurance (OSI) to delay a hearing that could cost California Insurance Company-New Mexico its certificate of authority to …
Chubb Limited (NYSE: CB) made an unsolicited bid to acquire The Hartford (NYSE: HIG) in what would be a $23 billion deal. Hartford’s board yesterday unanimously rejected the offer after reviewing it with its financial advisors. The merger would have shaken the the California workers’ compensation insurance market where each company is already a major …
The New Mexico Office of the Superintendent of Insurance (OSI) is threatening to cancel the certificate of authority issued to a corporation that Applied Underwriters hastily created in 2019. The …
Amidst charges of unapproved and uncollateralized loans to affiliates, unapproved property transfers, the California Department of Insurance’s Conservation and Liquidation Office says it is drafting a unilateral “rehabilitation” plan for …
The Fourth District Court of Appeal says the California Department of Insurance’s administrative law judges and Insurance Commissioner Ricardo Lara do not have the authority to decide breach of contract disputes through the administrative hearing process. The decision came in a 12-year-old premium audit case, but observers say the findings apply broadly to the common …
The California Department of Insurance and Insurance Commissioner Ricardo Lara (see photo) are accused of failing to be fully transparent and compliant in their response to a Public Records Act …
Every year with the first issue of the new year, Workers’ Comp Executive compiles a list of the “Top Stories” from the prior 12 months. Some years produce more newsworthy events than others, such as when major legislative reforms occur, there are shakeups in the workers’ comp market, or when scandals are exposed. Well, 2019 …
By Workers’ Comp Executive State regulation of insurance was dealt a sharp blow this week. No, it wasn’t because of any action in Congress or a pronouncement from the Federal Insurance Office. It was because of a press release. Essentially, California Insurance Company, a subsidiary of Applied Underwriters, stated that because the California Department of …