Obtaining a Liquidation Order is the next step in the rehabilitation plan for the Superior National Insurance Companies, which were taken over by the California Department of Insurance (CDI) on March 3, 2000. The order will invoke the claims paying …
Santa Monica, Calif.-based Fremont General Corp. has announced its plans to repurchase 3.5 million shares of company stock. The repurchase is designed to fund the company’s benefits trust plans. Currently 36.4 percent of the outstanding common shares are held by …
ABD Insurance and Financial Services will open the doors of its new regional office in Oakland, Calif., on Oct. 1. The new Oakland office is located in the heart of the rejuvenated City Center, 1111 Broadway, 16th Floor. While 25 …
Following an investigation by the California Department of Insurance, acting Insurance Commissioner J. Clark Kelso announced the service of a Cease and Desist Order on Winters, Calif.-based Puget’s Sound Agricultural Society Ltd. (AKA “Jesus Christ Administrators”), which uses an Internet …
Although they were not related before, now they’re family. East West Bancorp Inc. recently acquired San Marino, Calif.-based East West Insurance Agency, an unrelated agent providing business and consumer insurance services to the Southern California market. East West Bancorp, a …
Roughly three-quarters U.S. residents live in states where insurance departments do not receive adequate funding to properly oversee the insurance industry, according to a recent survey by the Consumer Federation of America. According to the survey, consumers in Arizona, Georgia, …
Markel Corporation has reached an agreement in principle with Reliance Group Holdings (to acquire the renewal rights to Reliance’s Child Care book of business and certain segments of Reliance’s Social Services and Healthcare Liability books. The purchase is subject to …
Insurance software manufacturer Mynd Corp. is awaiting government approval of a proposed buyout by Computer Sciences Corp. at $16 per share. The financially struggling company also said 300 jobs would be cut. The reduction is a “painful but necessary step …
American Modern Insurance Group, a wholly owned specialty insurance subsidiary of The Midland Company, and GuideOne Specialty Mutual Insurance Company of West Des Moines, Iowa, announced their intent to enter into a working agreement that will continue uninterrupted service to …
The Iowa Insurance Division is investigating bonuses paid to management of the West Des Moines-based insurance company that last week announced the layoff of 200 employees, the Des Moines Register reported Wednesday. In May, the insurance division asked GuideOne Insurance …
