California Insurance Co. News

Rural New Mexico Eyes Insurance Fight Amid Wildfires

ALBUQUERQUE, N.M. (AP) – Manuel and Marcy Silva combed through the charred rubble that used to be their home, searching for any salvageable bits in the wake of the largest wildfire in New Mexico history. Manuel found two of his …

New Mexico AG Takes More Steps to Intervene in Conservation of California Insurance Co.

New Mexico Attorney General Hector Balderas has retained California legal counsel on behalf of the state and filed for leave to submit an amicus curiae brief in the conservation proceedings over California Insurance Co. CIC continues to battle the imposition …

California Insurance Company Pressing for its ‘Day in Court’

U.S. District Court Judge William B. Shubb granted the motion by the California Department of Insurance to dismiss the lawsuit filed by California Insurance Co. against the CDI. Shubb acted in a manner consistent with his previous decision in the …

New Mexico AG Opposes California’s Blocking of California Insurance Company’s Redomestication

New Mexico’s Attorney General has moved to intervene in a lawsuit in which the California Insurance Co.’s is fighting actions by the California Department of Insurance to block CIC’s redomestication to New Mexico. New Mexico Attorney General Hector Balderas, Jr. …

California Insurance Co. Hits Commissioner with Anti-SLAPP Motion

California Insurance Co. has filed an “Anti-SLAPP” motion the company says is to protect its First Amendment rights in its ongoing legal battle with the California Department of Insurance and Insurance Commissioner Ricardo Lara. Anti-SLAPP laws (Strategic Lawsuit Against Public …

A.M. Best Affirms North American Casualty Group Companies’ Ratings

Ratings issuer A.M. Best said it has removed from under review with negative implications and affirmed the Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of “a” of five companies collectively referred to as North American Casualty …

AM Best Comments on California Insurance Co. Ratings Following Regulatory Action

AM Best on Wednesday said the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” of California Insurance Co. and its pooled insurance affiliates, collectively referred to as North American Casualty Group, remain under review …

New Mexico Explains Role in Enabling Applied Underwriters Sale

The growing drama behind the $920 million sale of Berkshire Hathaway-owned Applied Underwriters to its founder Steven Menzies got another voice added to the story. The New Mexico Office of Superintendent of Insurance on Thursday said New Mexico facilitated the …

Berkshire Agrees to Stop Selling EquityComp Policies in California

California Insurance Commissioner Dave Jones on Tuesday approved an order agreed to by California Insurance Co. and Applied Underwriters Captive Risk Assurance Company Inc. under which they will stop selling workers’ compensation policies that the two Berkshire Hathaway companies used …

Applied Underwriters’ Workers’ Comp Business Faulted by California Regulator

California’s insurance commissioner said a Berkshire Hathaway Inc. insurance business evaded a state law designed to protect small businesses from unexpected workers’ compensation costs. Commissioner Dave Jones faulted Berkshire’s Applied Underwriters Inc. and California Insurance Co. units over the sale …