Erwin Cheldin

A few years ago, Unico American Corp., a Woodland Hills insurance holding company, was embroiled in a family battle that was also a corporate power struggle. The dispute pitted brother against brother, cousin against cousin, and prompted half a dozen lawsuits involving allegations of fraud, embezzlement and conspiracy. Today, all but one of the lawsuits have been settled. Erwin Cheldin, Unico's founder and longtime president, is now chairman.

A few years ago, Unico American Corp., a Woodland Hills insurance holding company, was embroiled in a family battle that was also a corporate power struggle. The dispute pitted brother against brother, cousin against cousin, and prompted half a dozen lawsuits involving allegations of fraud, embezzlement and conspiracy. Today, all but one of the lawsuits have been settled. Erwin Cheldin, Unico's founder and longtime president, is now chairman.

A Pacific Palisades couple cut their stake in Unico American Corp. to 3.3% of the insurance company's stock. In a filing with the Securities and Exchange Commission, Arnold Jack Cheldin and his wife, Suzanne, said they sold 373,600 Unico shares between Aug. 1 and Sept. 26 at prices ranging from $4.43 to $6.06 a share. The couple now own 175,000 shares of Unico, a property-casualty insurer based in Woodland Hills whose principal unit is Crusader Insurance Co.

Unico American Corp., citing the effect of the Los Angeles riots, reported an $8.56-million loss for its fiscal first quarter that ended June 30. The Woodland Hills-based insurer said the loss compared with year-earlier earnings of $1.15 million. Its first-quarter revenue dipped to $6.51 million from $6.77 million. "The events in Los Angeles had a dramatic impact on our company's performance," Unico American Chairman Erwin Cheldin said in a statement.

Three top officials of Walt Disney Co. headed the list of 1990's highest-paid executives at public companies in the San Fernando Valley and Ventura County areas. Meanwhile, 10 officials of local companies received total compensation of more than $1 million in 1990--or more than 18 times the average household income in the San Fernando Valley. A total of 32 executives in the region received $500,000 or more. Executives of entertainment and financial companies dominated the list.

In the months since the Los Angeles riots dealt it $21 million in claims, Crusader Insurance Co., a tiny Woodland Hills-based firm that is one of the biggest insurers of mom-and-pop businesses in central Los Angeles, has stopped writing new insurance covering riot losses and cut 85% of its agents there.

Since the Los Angeles riots dealt it $21 million in claims, Crusader Insurance Co., one of the biggest insurers of mom-and-pop businesses in central Los Angeles, has stopped writing new riot insurance and eliminated 85% of its agents there.

From his seventh-floor office in Woodland Hills last week, Ric Hill, a vice president at 20th Century Industries, could see smoke from the Calabasas/Malibu fire mushrooming into the sky. The fire was only a few miles away, but it was the wind that was on his mind. 20th Century insures 208,000 homes in California, including many in Calabasas and the western San Fernando Valley. "There was quite a lot of concern up here," Hill said.

From his seventh-floor office in Woodland Hills last week, Ric Hill, a vice president at 20th Century Industries, could see smoke from the Topanga Canyon fire mushrooming into the sky. The fire was only a few miles away, but it was the wind that was on his mind. 20th Century insures 208,000 homes in California, including many in Calabasas and the western San Fernando Valley. "There was quite a lot of concern up here," Hill said.

Just three months ago, 20th Century Insurance Co. was counting its blessings as it escaped the Southland wildfires with relatively few claims. But this time, the company got whacked--and in more ways than one. On the Monday morning of the earthquake, it looked like a bomb had exploded inside 20th Century's 11-story headquarters building in Woodland Hills. Roughly 100 panes of glass were blown out, beige drapes hung out windows like unmade bed sheets, and the building was closed.

Walt Disney Co.'s corporate offices in Burbank may have eclipsed Disneyland as the "happiest place on earth." Every year, Disney's top executives collect their riches. Last year, they were the four highest-paid executives at California's publicly held corporations. Disney President Frank G. Wells became the state's best-paid by exercising stock options and pocketing $46.1 million. Added to his $4.8-million salary and bonus, his total compensation was nearly $51 million.