Latest California Headlines
All the headlines from our California Topic Page, ordered by recency.
California Workers’ Comp Bureau Submits Lower 2020 Pure Premium Rate Filing
Aug 20 2019 // The Workers’ Compensation Insurance Rating Bureau of California on Tuesday submitted its Jan. 1, 2020, pure premium rate filing to the California Department of Insurance, proposing advisory pure premium rates that...
PG&E Will Face Jury Over Billions in Damages from Massive California Wildfire
Aug 20 2019 // Victims of the second-most destructive fire in California history will get a chance to try and persuade a jury that PG&E Corp. should pay them as much as $18 billion in damages. U.S. Bankruptcy Judge Dennis Montali on...
Blank Rome Adds Calkins, Rylaarsdam and Edri in California
Aug 20 2019 // Blank Rome LLP has added Mary Craig Calkins, a partner, Daniel H. Rylaarsdam, of counsel, and Sarah L. Edri as an associate along with additional professional staff to the firm’s insurance recovery group. Calkins,...
IICF Awards $50K Grant to California Fire Foundation for Victims
Aug 19 2019 // The Insurance Industry Charitable Foundation’s Western Division presented a $50,000 grant to the California Fire Foundation’s Supplying Aid to Victims of Emergency program on Aug. 16. The grant is to support...
Abry Partners Agrees to Acquire Portfolio in California from Capital Z
Aug 19 2019 // Abry Partners has agreed to acquire Lake Forest, Calif.-based Portfolio Holding Inc. from Capital Z Partners LP. The deal is subject to normal and customary closing conditions. Terms were not disclosed. All of...
PG&E Shares Dive on Risk of up to $18B in Wildfire Lawsuit Costs
Aug 19 2019 // PG&E Corp. shares plunged Monday after a judge ruled that a jury can determine whether it should pay as much as $18 billion in damages to wildfire victims. The California utility giant fell as much 28%, to $10.22, at...
Court Says PG&E Has Sole Right to Submit Bankruptcy Plan
Aug 19 2019 // A federal judge has allowed PG&E Corp. to retain the sole rights to propose a plan to exit bankruptcy, as he rejected efforts by investors to put forward competing plans, according to court documents. Judge Dennis...
Edison International to Face Trial Over Woolsey Wildfire Claim in April
Aug 19 2019 // The first trial to determine if Edison International’s Southern California utility is liable for damages from the Woolsey wildfire that tore through Malibu last year will begin on April 27, a judge said. California...
Report: Re/Insurers Are Reconsidering Risk Appetite for California Wildfires
Aug 19 2019 // S&P Global Ratings says 2020 reinsurance pricing in the aftermath of California wildfires will likely rise as re/insurers are finding 2017-2018 losses from wildfires in that state to be higher than expected. The...
One of 86 Victims Of California’s Deadliest Wildfire Identified
Aug 19 2019 // One of 86 people who were killed in the deadliest wildfire in California history has been identified. The Butte County Sheriff’s office said on Friday it positively identified the remains of 68-year-old Judith Sipher...
California Workers’ Comp Committee Votes
Aug 19 2019 // for Drop in 2020 Pure Premium Filing The Workers’ Compensation Insurance Rating Bureau of California’s governing committee voted earlier this month to authorize the WCIRB to submit a Jan. 1, 2020, advisory pure...
California Leads Nation in SMB Cyber Insurance Adoption, Report Shows
Aug 19 2019 // California leads the nation in small to mid-size business cyber insurance adoption, according to a report released in early August by CyberPolicy. The report shows the highest annual premium in the state totaled more than...
Execs: Wholesalers at Center of Topa Plans After Acquisition of California Insurer
Aug 19 2019 // Two key executives involved in the acquisition of Topa Insurance Group by Altamont Capital Partners who spoke about the deal were emphatic about one thing: wholesalers will continue to be the center of the company’s...
California Manufacturer of Fire Protection Spray Sued for $5M
Aug 19 2019 // A $5 million lawsuit has been filed against a Los Angeles County company that sells a product it contends helps protect homes from wildfires. The Santa Barbara County district attorney and the Los Angeles city attorney...
Business Moves
Aug 19 2019 // National Altamont Capital Partners, Topa Insurance Group Altamont Capital Partners has signed a definitive agreement to acquire Calabasas, Calif.-based Topa Insurance Group from its long-time owner, Topa Equities Ltd. The...
California’s $27.6M Fine Against Mercury Insurance Remains After Court Action
Aug 16 2019 // California regulators say a ruling by the state’s highest court means a $27.6 million fine imposed against Mercury Insurance Co. for improperly tacking fees onto auto insurance policies will stand. The California...
Outside Inspectors Find Tree Hazards That PG&E Contractors Overlooked
Aug 16 2019 // PG&E Corp.’s court-appointed compliance monitor concluded the utility isn’t trimming trees that pose wildfire threats in high-risk areas of California and didn’t train its contractors properly. The...
ATTOM Data Solutions in California Puts Notaras of XL Innovate on Board
Aug 16 2019 // Irvine, Calif.-based ATTOM Data Solutions has named Martha Notaras to its board of directors. Notaras is a partner at venture capital fund, XL Innovate, investing in insurtech and fintech. She serves on the boards of four...
California Cannabis Market on Track to Hit $3.1B, Report Shows
Aug 15 2019 // After briefly faltering a year ago, California’s massive cannabis industry seems to be regaining steam. Cannabis sales in the Golden State are expected to reach nearly $3.1 billion this year, a report released today...
Mayor of Major California City Wants Gun Owners to Get Liability Insurance
Aug 14 2019 // The mayor of San Jose has proposed requiring gun owners in the nation’s 10th largest city to carry liability insurance to cover taxpayer costs associated with firearm violence. The Mercury News reported that, if...
