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CompWest Parent Completes $20 Million Trust Preferred Offering

CWI Holdings, Inc., the parent organization of CompWest Insurance, which provides workers’ compensation coverage to more than 1,200 California employers, has announced the issuance of $20 million of trust-preferred securities in a private placement by CWI Holdings 2006 Statutory Trust I, a wholly-owned Delaware statutory trust created for that purpose. The trust-preferred securities have a … Read More »

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A.M. Best Affirms Ratings of Hanover Insurance Group, Inc.

A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and the issuer credit ratings of “a-” for Hanover Insurance Group Property and Casualty Companies of Worcester, Massachusetts. Additionally, A.M. Best has affirmed the issuer credit ratings of “bbb-” and the debt ratings of “bbb-” for senior debt and “bb” for capital securities … Read More »

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News Digest 6/23/2006

State Fund’s Santa Rosa Employees Tout Charity Achievements State Compensation Insurance Fund’s Santa Rosa District Office employees have raised nearly $50,000 over the past decade for various charities, including $3,000 … Read More »

State Fund Santa Rosa Employees Tout Charity Achievements

State Compensation Insurance Fund’s Santa Rosa District Office employees have raised nearly $50,000 over the past decade for various charities, including $3,000 at the recent 25th annual “Human Race.” The Santa Rosa District Office serves more than 10,000 policyholders. State Fund also says that its donations helped the Volunteer Center of Sonoma County bring in … Read More »

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News Digest 6/22/2006

Family Business Owners Nabbed for Workers’ Comp Fraud Insurance Commissioner John Garamendi announces the arrests of the owners of a residential framing contracting business for workers’ compensation fraud and payroll … Read More »

Contractors Arrested for Grand Theft, Workers’ Comp Fraud and Payroll Tax Evasion

California Insurance Commissioner John Garamendi has announced the June 1 arrests of Clyde and Jackie Sewell, both 52, the owners of residential framing contracting business North Pointe Enterprises, Inc., and their daughter, Toni Studer, 30, for allegedly failing to accurately report employee payroll to the State Compensation Insurance Fund and the Employment Development Department, in … Read More »

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News Digest 6/21/2006

San Diego Framer Pays $600,000 in Restitution to State Fund The California State Compensation Insurance Fund says it has received nearly $600,000 in restitution from the owner of a San … Read More »

San Diego Framer Pays $600,000 in Restitution to State Fund

The California State Compensation Insurance Fund says it has received nearly $599,817 in restitution from the owner of a San Diego framing company convicted of workers’ compensation insurance fraud, which was discovered through a routine State Fund audit. Robert H. Rodriguez, 50, of El Cajon, the owner of RH General Inc. and JBD Staffing, Inc. … Read More »

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