December 9, 1989 |
The Farmers group of insurance companies may notify more than 300,000 auto insurance customers next week of an upcoming rate increase, as long as policy holders are also told that the rate hike ultimately might not take effect, a Los Angeles judge said Friday. Superior Court Judge Miriam A. Vogel told Farmers lawyers that she will not decide until Dec. 18 whether to allow an average 5.9% rate increase that the companies want to impose beginning Jan. 1.
December 8, 1989 |
Insurance Commissioner Roxani Gillespie has filed a lawsuit accusing California's insurance industry of "engaging in a conspiracy . . . seeking to block, hinder or delay the implementation of Proposition 103" and asking a Los Angeles judge to issue an injunction halting such tactics.
November 18, 1989 |
French insurer Axa Midi Assurances accused BAT Industries on Friday of using its Farmers Group subsidiary as a "poison pill" in a takeover battle. Axa Midi would own Los Angeles-based Farmers Group if Sir James Goldsmith is successful in his effort to purchase BAT Industries in what would be history's second-largest takeover. "BAT is trying to manipulate the U.S.
October 28, 1989 |
A Los Angeles judge Friday rejected pleas from the Aetna company that she invalidate Insurance Commissioner Roxani Gillespie's Oct. 2 order freezing auto insurance rate increases, and instead strongly supported the freeze. Declaring that "at some point the consumers in this state have to have some protection," Superior Court Judge Miriam A. Vogel said she is satisfied that Gillespie "has the power" under what the judge termed "an emergency situation" to hold up all rate increases.
October 27, 1989 |
Insurance Commissioner Roxani Gillespie, concerned that scores of insurance companies are trying to use an ambiguous decision two weeks ago by a Los Angeles judge to circumvent her freeze on auto insurance rate increases, will go back into court today to try to get the decision clarified and the freeze strengthened. Gillespie announced Thursday that she will challenge the Aetna insurance company's attempt to implement a 9.
October 19, 1989 |
Earthquake insurance is hard to come by just when it seems like a good idea--right after a quake. Insurers typically suspend the sale of new earthquake policies for three to 30 days after a quake, industry officials said. That's to guard against fraud and to avoid paying claims from aftershocks that normally follow a quake for several days. Quake coverage will probably be available in Southern California, said Richard J. Roth Jr., assistant state insurance commissioner. Allstate Insurance Co.
October 14, 1989 |
A panel of experts began work Friday drawing up an official interpretation of Proposition 103 as it relates to new methods of pricing auto insurance. The panel--composed of a leading insurance industry actuary, the head of the National Insurance Consumer Organization and the chief deputy state insurance commissioner--was formed as a result of negotiations involving representatives of Insurance Commissioner Roxani Gillespie, the big insurance companies and leading consumer organizations.