Advertisement
YOU ARE HERE: LAT HomeCollectionsCasualty Insurance
IN THE NEWS

Casualty Insurance

REAL ESTATE
December 9, 2001 | STEPHAN GLASSMAN and DONIE VANITZIAN, SPECIAL TO THE TIMES
Question: At our homeowners association meeting the board told us that they were paying our master insurance policy with one annual payment to the broker. We have just discovered that instead of paying our policy immediately, the broker pays our premiums on a monthly basis. This month he has defaulted on one of the policies. We are furious that he has full use of our money. Is he entitled to keep the interest on our money? We understand that the broker has a $10,000 bond.
Advertisement
BUSINESS
May 30, 2001 | From Associated Press
State insurance regulators Tuesday assumed control of financially troubled Reliance Insurance Co. and will review the company's finances to determine if it should be liquidated. "At this point we have taken control," said Insurance Commissioner M. Diane Koken. "We will analyze the financial position . . . Although we remain optimistic, there is a possibility that this will not remain in rehabilitation, it will go to liquidation."
CALIFORNIA | LOCAL
November 21, 2000
Amwest Insurance Group Inc. of Calabasas reported a net loss of $3.1 million for the third quarter that ended Sept. 30, compared with a net loss of $2.7 million for the third quarter last year. Revenue dipped to $28.3 million from $29.7 million. Amwest is an insurance holding company underwriting surety, property and casualty insurance through its subsidiaries Surety, Condor and Far West insurance companies.
BUSINESS
October 10, 2000 | From Bloomberg News, Times Staff
Investors who own shares of casualty insurance firm Safeco Inc. may be wishing they had bought some insurance themselves--against company missteps. The Seattle-based firm warned Monday that third-quarter earnings will be as much as 80% below analysts' expectations because of higher claims. Safeco has reported seven consecutive quarters of lower earnings.
CALIFORNIA | LOCAL
August 22, 2000
Amwest Insurance Group Inc. of Calabasas reported a net loss of $12 million for the second quarter ended June 30, compared with net income of $1.7 million for the same period last year. Revenue dipped to $29 million, compared with $30.5 million. Amwest is an insurance holding company that underwrites surety, property and casualty insurance through Amwest Surety Insurance Co., Condor Insurance Co. and Far West Insurance Co.
NEWS
July 1, 2000 | From a Times Staff Writer
Reacting to the ongoing corruption scandal at the California Department of Insurance, Gov. Gray Davis signaled Friday that he supports restoring the position of insurance commissioner to an appointed rather than elected office. "I think it is time that department had a little reprieve from politics," Davis said. The governor announced he would appoint an interim successor to outgoing Commissioner Chuck Quackenbush within 30 days.
BUSINESS
May 26, 2000 | LIZ PULLIAM WESTON
Drivers, tighten your seat belts. Auto insurance premiums may be on the rise. Insurance companies say higher medical costs and recent court cases may soon force them to increase rates that had been on a steady decline in California through the late 1990s. What's really going on, however, is a much more interesting story of politics converging with economics to halt an industry price war and lay the groundwork for future rate increases.
CALIFORNIA | LOCAL
May 23, 2000
Amwest Insurance Group Inc. of Calabasas reported net income of $803,000 for the period ended March 31 compared with net income of $2.4 million for the same period last year. Premiums written were $37 million compared with $32 million in 1999. Amwest is an insurance holding company that underwrites surety, property and casualty insurance through Amwest Surety Insurance, Condor and Far West insurance companies.
CALIFORNIA | LOCAL
August 10, 1999
Amwest Insurance Group Inc., Calabasas, reported that net income increased to nearly $2 million for the second quarter ended June 30, from $975,000 for the same period last year. Revenue increased slightly to $30.5 million over $30.3 million. Amwest is an insurance holding company underwriting surety and property and casualty insurance through Amwest Surety Insurance Co., Condor Insurance Co. and Far West Insurance Co.
Los Angeles Times Articles
|