August 17, 2004 |
Facing conflict-of-interest concerns in the state Senate, Insurance Commissioner John Garamendi has withdrawn his nominee to head a state agency that oversees more than $1 billion in assets from failed insurance companies. Garamendi pulled the nomination of Fred A. Buck to the $260,000-a-year job as head of the Department of Insurance's Conservation and Liquidation Office after the Senate Rules Committee said it would take no action on the appointment.
July 28, 2004 |
Anthem Inc. said Tuesday that it would sue California Insurance Commissioner John Garamendi within days, seeking to overturn his decision to block part of its planned $17-billion acquisition of WellPoint Health Networks Inc. of Thousand Oaks. "We simply believe very strongly that we've met all the statutory requirements and that Garamendi has really abused his discretion," Anthem Chief Executive Larry Glasscock told Wall Street analysts after the company reported second-quarter results.
July 7, 2004 |
State Insurance Commissioner John Garamendi said Tuesday that he would reject part of Anthem Inc.'s proposed acquisition of WellPoint Health Networks Inc. unless Anthem spent as much on healthcare for uninsured Californians as it would on payments to executives. Although Garamendi does not have authority to block the entire deal, he can scuttle Anthem's purchase of WellPoint's Blue Cross Life & Health Insurance Co., a subsidiary representing about 10% of its California business.
CALIFORNIA | LOCAL
April 27, 2004 |
State Insurance Commissioner John Garamendi will launch a special team to investigate complaints by hundreds of victims of the 2003 wildfires that their insurance companies are failing to provide timely payments to help replace their homes and, in some cases, wrote policies that seriously underestimated replacement costs.
April 6, 2004 |
Insurance Commissioner John Garamendi sued California's government-run workers' compensation carrier Monday, escalating a long-running feud over Department of Insurance efforts to regulate the $7.6-billion entity.
March 12, 2004 |
Hoping to give the state's costly workers' compensation system a jolt of price-cutting competition, Insurance Commissioner John Garamendi said he would meet with about half a dozen insurers to urge them to pump up their share of the California market. "Right now is the time to pitch California as a very good market for the workers' compensation industry," Garamendi said before leaving for a National Assn. of Insurance Commissioners meeting in New York.
CALIFORNIA | LOCAL
February 13, 2004 |
State Insurance Commissioner John Garamendi, often a critic of the industry he regulates, said that insurance companies have been "behaving properly" in "the great majority of cases" arising from last October's wildfires. Garamendi said a compilation of complaints reaching the Department of Insurance taken toward the end of January showed that there had been 123 complaints involving the more than 3,700 homes totally lost in the fires.
CALIFORNIA | LOCAL
November 19, 2003 |
State Insurance Commissioner John Garamendi expressed concern Tuesday that some people who lost their homes in the Southern California wildfires might have inadequate insurance to meet their losses. Garamendi's comments came after he oversaw a series of hearings last week in Claremont, Moorpark, San Diego and San Bernardino in which residents who lost homes expressed their concerns about the rebuilding process.
November 7, 2003 |
California Insurance Commissioner John Garamendi turned up the heat Thursday on workers' compensation insurers by recommending that they slash employers' premiums by an average of 14.9% early next year to reflect the effects of recently passed reforms. If implemented, such cuts effectively would roll back average premiums to July 2002 levels and deliver much-needed relief to California employers, who have been torched by skyrocketing costs for the mandatory coverage.
October 23, 2003 |
California's insurance chief, saying the Legislature's recent overhaul of the state's workers' compensation system was "inadequate," on Wednesday called for additional reforms including further cutbacks to outpatient surgical centers and a crackdown on costly litigation.