Senate Committee Approves CEO Appointment for Liquidation Office

The Senate Rules Committee gave its unanimous approval to Insurance Commissioner Ricardo Lara’s appointment of Joe Holloway (see photo) to be the chief executive officer of California’s Conservation and Liquidation Office. Holloway has been with the agency for nearly two decades and overseen numerous carrier insolvencies and conservations. He replaces David Wilson, who retired last … Read More »

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CLO To Sell Majestic Insurance Company’s Remains

The California Conservation and Liquidation Office has a deal in hand to sell off the corporate shell of the failed Majestic Insurance Company along with its certificates of authority to write insurance in California as well as other states. But don’t look for the new owners to be interested in writing your next workers’ comp … Read More »

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CDI, Superior National Offshoot Reach $15 Million Settlement

A California court is giving the go ahead to a $15 million settlement between the California Department of Insurance, as the liquidator of the failed Superior National insurance group estate, and a litigation trust that was formed after the carrier was declared insolvent. The deal has CDI paying out up to $15 million to settle … Read More »

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