Insurance agents and brokers want the California State Compensation Insurance Fund to change its broker of service policy and instead recognize broker of record (BOR) letters. While the policy not to recognize BOR letters is not new, the Alliance of …
The California Council of the National Association of Insurance Women has elected officers for its 2011-2012 terms, which begins on July 1, 2011. New officers are: CA Council Director Mitula Patel of Momentous Insurance Brokerage of Van Nuys; Public Relations …
Calif. Rating Bureau Wants to Lower Recommended Workers’ Comp Rate 2% The Workers’ Compensation Insurance Rating Bureau of California announced it will be amending its recommended rate filing to the state insurance commissioner, recommending a 27.7 percent increase in the …
Markel, Hiscox Insurer Markel acquired the rights to American Live Stock, the animal mortality business of Hiscox Insurance Co. Terms of the deal were not disclosed. The transaction includes the rights to the American Live Stock and Harding & Harding …
A Continuing Objective “Our objective remains the same at AIG, which is to repay taxpayers and position AIG over time as a strong, independent company worthy of investor confidence.” —An anonymous source from American International Group Inc. (AIG) commenting on …
Californians might have more reason to retrofit their homes to better withstand a major earthquake, thanks to a recently adopted building code for retrofitting existing structures. The standard, approved in August by the state Building Standards Commission, is the first …
The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Trucking Market Detail: USAssure Insurance Services. Inc. provides monoline or package program for commercial automobile. …
Insurers in California will now be required to disclose cancellation penalties —prior to or concurrent with an application for insurance — thanks to legislation recently signed by Gov. Arnold Schwarzenegger. Previously, the law stated that an insured was entitled to …
Surplus line insurers should not be subject to California Constitution Section 28 taxes to the state, according to a California Court of Appeal decision that notes that these nonadmitted insurers already pay surplus line premium taxes. The conflict arose when …
Phantom Oversight “We need to uncover the true extent of what the FDA knew and when they knew it and determine whether or not they acted appropriately and timely.” —Congressman Darrell Issa (R-Calif.), calling on lawmakers to interview FDA officials …
