California News

Wilson, Paves & Associates Joins PacWest Alliance Insurance Services

Wilson, Paves & Associates, which has offices in Bakersfiled and Atascadero, Calif., has joined PacWest Alliance Insurance Services Inc. PacWest Alliance Insurance Services Inc. is a California-based insurance cluster that provides a managed environment for its members to maximize growth …

Economic Downturn Puts Pressure on Return-to-Work Programs

The recent recession and record unemployment rates have increased pressure on the workers’ compensation insurance system to help return injured employees back to work while effectively managing costs. That was one of the messages shared by presenters at the Workers …

Geithner Denies Role in Hiding AIG Payments to Banks

U.S. Treasury Secretary Timothy Geithner said Thursday the bailout of insurer American International Group was not meant to help out bank counterparties and that he had no role in the decision not to disclose payments made to banks. In his …

Calif. Earthquake Damage To Top $28M, ‘State of Emergency’ in Humboldt County

California Gov. Arnold Schwarzenegger has declared a state of emergency in the Northern California county struck by a weekend earthquake, saying damage from the magnitude-6.5 temblor was expected to top $28 million. Saturday’s quake “disrupted utilities and caused damage to …

Wall Street Barons Concede Failures, Offer No Apologies

Wall Street’s chiefs acknowledged taking on “too much risk” and having “choked” on their own cooking, but stopped short of an apology as they sparred with a commission looking into the financial crisis. The first public hearing of the Financial …

Arrowhead General Insurance Offers Commercial Package in Calif.

Arrowhead General Insurance Agency of San Diego has a new commercial package available in Cailfornia. As part of the commercial contractor suite of products, the Commercial Package product offers more than 170 eligible classes including garden apartments, commercial real estate …

Trans Cal Sells Zurich Transportation Accounts to Cochrane & Co.

Trans Cal has sold all Zurich transportation accounts of Trans Cal to Cochrane & Co. Inc., the Spokane, Wash., company announced. The sale became effective on Dec. 31, 2009, and applies to existing Zurich accounts and to all open quotes. …

The Hanover Insurance: Focused on Niches, Says More Acquisitions Likely

The Hanover Insurance Group Inc.’s CEO Frederick H. Eppinger expects the western United States to be a key growth driver for the super-regional insurer in the next several years. Having just entered into a renewal rights agreement with OneBeacon Insurance …

Connecticut Teen’s Death Revives Bus Seat Belt Debate

For more than a decade, Connecticut lawmakers have considered and dismissed the idea of requiring seat belts on school buses that carry nearly 500,000 children each day. But a deadly weekend crash in Hartford has given the argument a human …

P/C Industry Must Strengthen Underwriting to Counter Weak Investments

The most recent reports of property/casualty insurers indicate a return to profits, thanks in large measure to a quiet hurricane season. But behind the rosy reports is a thorny problem — lower investment income. According to Dr. Robert Hartwig, president …