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Insurance

October 26, 1995| Times Staff and Wire Reports

Insurers to Rebate $42.7 Million: In the latest round of Proposition 103 rebates, 16 companies will return the money to their 1989 California customers, Insurance Commissioner Chuck Quackenbush announced. The largest of the new rebates under the 1988 insurance rate-cutting initiative will be $13.6 million from Zurich Group of Cos. Others include Nationwide Corp., $7.5 million; TOPA Equities Ltd., $4.5 million, and Great Pacific Insurance Co., $4.1 million. Quackenbush also said he will subpoena executives of 53 companies that have not yet paid their Proposition 103 rebates, to prepare for administrative hearings on their cases.

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