The American Property Casualty Insurance Association (APCIA) on Tuesday testified in opposition to draft regulations that could eliminate many affinity group insurance discount programs during a pre-notice workshop held by the California Department of Insurance (CDI) in Los Angeles. “We share CDI’s goal of helping low-income Californians have access to lower auto insurance rates, but… Continue reading APCIA Voices Opposition to California’s Proposed Changes that Could Eliminate Affinity Group Discount Programs
Tag: California Department of Insurance
California Puts Former Berkshire Insurance Unit Under State Control
California regulators seized an insurer formerly owned by Warren Buffett’s Berkshire Hathaway Inc., the latest twist in a continuing dispute about whether its sale of the company violated that state’s insurance regulations. The California Department of Insurance said Tuesday that California Insurance Co., one of the insurance companies owned by workers’ compensation insurer Applied Underwriters,… Continue reading California Puts Former Berkshire Insurance Unit Under State Control
Buyout of Berkshire Hathaway Insurance Unit Under Scrutiny
A former insurance subsidiary of Warren Buffett’s Berkshire Hathaway Inc. sparred with the California Department of Insurance on Monday about whether its recent sale violated state insurance regulations. Applied Underwriters, a workers’ compensation insurer, said Wednesday that its co-founder Steve Menzies and Quadrant Management bought the company, including the 81% owned by Berkshire, for $920… Continue reading Buyout of Berkshire Hathaway Insurance Unit Under Scrutiny
CA Department of Insurance Wins 20-Year Court Battle Against Mercury Insurance
The California Supreme Court denied a petition for review by Mercury Insurance Company thereby letting stand a $27.6 million fine the Department of Insurance imposed on Mercury for charging illegal fees in violation of Proposition 103. The fine is the largest in the Department’s history against a property and casualty insurer. In 2015, the Commissioner… Continue reading CA Department of Insurance Wins 20-Year Court Battle Against Mercury Insurance
California Residents May be Vulnerable if Insurance Is Canceled Due to Wildfire Risk
California’s Department of Insurance can help homeowners who lose insurance coverage because of wildfire risk find new coverage, but it can’t guarantee what the cost or extent of coverage will be under a new policy. According to a Department of Insurance news release, “Current law does not allow the insurance commissioner to require insurers to… Continue reading California Residents May be Vulnerable if Insurance Is Canceled Due to Wildfire Risk
CDI Is Moving to Sircon’s Enhanced Online Insurance Licensing Services
The California Department of Insurance (CDI) will be moving its online licensing services for insurers, agents and brokers, adjusters, and bail agents to Sircon, powered by Vertafore, in the summer of 2019 to take advantage of Sircon’s enhanced online licensing services. At that time, the following CDI online licensing services for individual and business entity… Continue reading CDI Is Moving to Sircon’s Enhanced Online Insurance Licensing Services