July 12, 2001 |
A day after Farmers Insurance Exchange was slapped with a $90-million judgment in an overtime case, a lawsuit was filed against 21st Century Insurance Group charging that company with cheating its claims adjusters and examiners out of premium pay. Similar lawsuits are pending against at least nine other insurers in California, where labor laws and court rulings favor white-collar workers' demands for overtime pay.
April 17, 2001 |
California homeowners may be hit with higher insurance rates after two companies--including one of the state's largest insurers--requested premium hikes averaging 6.9% for their property policies. Farmers Insurance and 21st Century Insurance each asked for the increases in their homeowners rates, according to state Department of Insurance filings made public Monday. Individual rates could rise as much as 15% in some areas, including Orange County, while some areas could see rate cuts.
CALIFORNIA | LOCAL
February 13, 2001
21st Century Insurance Group of Woodland Hills reported net income of $1.8 million for the fourth quarter ended Dec. 31, compared with $7.3 million for the fourth quarter in 1999. Revenue increased to $221.8 million from $202.7 million. For the year, the company reported net income of $12.9 million, down sharply from net income of $87.5 million. Revenue rose to $869.8 million from $832.7 million.
March 9, 2000 |
Paul Farber, executive vice president of 21st Century Insurance Group, resigned, becoming the latest defection from the Woodland Hills-based insurer. Farber, 48, who also held the position of chief operating officer, was leaving to "pursue other interests." He joined the company in 1984 and held various positions in the claims, marketing and operations areas of the company. Bruce Marlow, who was named president and chief executive last month, will assume Farber's operating responsibilities.
January 27, 2000 |
A major shareholder and board member of 21st Century Insurance Group is seeking to become chief executive of the Woodland Hills-based insurer whose CEO announced his resignation earlier this week. The offer came from Gregory Shepard, chairman and president of American Union Insurance Co., who owns about 6% of 21st Century. He said he would take a salary of just $1 a year and would give up his current job if selected as William Mellick's successor.
January 25, 2000 |
The chief executive of 21st Century Insurance Group has resigned as insurance behemoth and majority shareholder American International Group continued to strengthen its hold over the smaller Woodland Hills-based insurer. William L. Mellick, president of 21st Century since 1994 and its CEO since 1995, said in a statement released Monday that he is resigning his positions at the company and on its board, effective Feb. 4., to "pursue other business and personal interests."