California News

Woodruff-Sawyer & Co. Adds 2 to California Staff

San Francisco-based Woodruff-Sawyer & Co. announced that Matt Healy has joined the firm as vice president, executive benefits and succession planning, in San Francisco. Additionally, Penny Malouf has joined the firm as account executive, employee benefits in the Southern California …

Calif. Proposes Agent/Broker Regs To Alleviate Under-Insurance

To alleviate concerns about homeowner under-insurance, the California Department of Insurance has informed Insurance Journal that it has scheduled a hearing for May 17 in Los Angeles to discuss proposed regulations governing standards and training for estimating replacement value on …

Lovinggood Recognized By National Association of Insurance Women

Victoria H. Lovinggood, underwriting trainee at Zurich, has been named the 2008 – 2009 Region VIII Young Professional of the Year. Lovinggood is a member of the Insurance Women of San Gabriel Valley, a local affiliate of the National Association …

CRM Holdings Forms Strategic Alliance with AmTrust Financial Services

CRM Holdings Ltd., a Bermuda-based workers’ compensation insurance provider, announced that its primary insurance subsidiary, Majestic Insurance Co., has entered into a quota share agreement with certain subsidiaries of AmTrust Financial Services Inc. AmTrust is a multinational specialty property/casualty insurance …

Federal Judge in New Orleans Awards $2.6M in Chinese Drywall Case

A federal judge in New Orleans has awarded seven plaintiffs from Virginia more than $2.6 million in a consolidated case involving damage to the plaintiff’s homes as a result of the installation of substandard drywall from China. In an opinion …

SullivanCurtisMonroe Adds New Vice President

SullivanCurtisMonroe has named Tod Toriello vice president in its Irvine, Calif., office. Toriello joins SCM from Aon in Orange County, Calif., where he was a producer. Prior to that, Toriello held positions as an account executive at SCM and Liberty …

Green Building Movement Raises Some Construction Defect, Claims Concern

New insurance products to protect innovative green construction products such as wind turbines, fuel cells and vegetative roofs are on the rise. But even those closest to the situation admit to being a bit, well, green, about the risks behind …

Calif. Governor’s Race To Set Spending Records

California’s gubernatorial governor’s race between Insurance Commissioner Steve Poizer and former eBay chief executive Meg Whitman is expected to be the most expensive governor’s race in the state’s history. Whitman on Monday gave her campaign for the GOP gubernatorial nomination …

Heffernan Insurance Hires Newell for Southern Calif. Construction Practice

Heffernan Insurance Brokers headquartered in Walnut Creek, Calif., has hired Keith W. Newell as senior vice president, Southern California Construction Practice Leader in its Los Angeles office. Newell will expand Heffernan’s construction insurance portfolio and provides more than two decades …

Property Firm Purchases Infamous AIG Party Hotel

Washington Holdings, a private real estate company, said Tuesday it bought the St. Regis Monarch Beach Resort, which became infamous after American International Group Inc executives spent lavishly there weeks after a receiving a tax-payer bailout. Seattle-based Washington Holdings paid …