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In July 1998, an anonymous French whistle-blower told the California Insurance Department that Crédit Lyonnais was the real buyer of the insurance company and controlled it through secret agreements. In early 1999, the California Insurance Department sued the bank and other parties, alleging fraud and seeking $2 billion in restitution. [4]
The California Department of Insurance ( CDI ), established in 1868, is the agency charged with overseeing insurance regulations, enforcing statutes mandating consumer protections, educating consumers, and fostering the stability of insurance markets in California. The CDI has authority over how the insurance industry conducts business within ...
The California Insurance Code are the codified California laws regarding insurance. The code not only covers requirements for home, auto, medical and business insurance policies, but also covers the licensing of bail bond agents, workers' compensation, motor club services, and other related business types. Topics include: classes of insurance ...
dfpi .ca .gov. The California Department of Financial Protection and Innovation (abbreviated DFPI; formerly the Department of Business Oversight, DBO) regulates a variety of financial services, businesses, products, and professionals. [1] The department operates under the California Business, Consumer Services and Housing Agency .
(Reuters) - Property and casualty insurer Liberty Mutual will stop offering its business owner's policy (BOP) product in wildfire-prone state California from Oct. 1, in a sign that cost inflation ...
www .insurance .ca .gov. The California insurance commissioner has been an elected executive office position in California since 1991. Prior to that time, the insurance commissioner was appointed by the governor. The officeholder is in charge of the California Department of Insurance . The current insurance commissioner is Democrat Ricardo Lara .
A BOP is actually an insurance package that combines several forms of coverage together, making it a simple option for small business owners. BOPs usually include general liability, property ...
According to the California Insurance Commissioner, Proposition 103 "has saved consumers billions" since being implemented, specifically a $4.29 billion per year dividend. [5] It also claims "Californians spent 0.3% less on auto insurance in 2010 than they spent in 1989, while the nation spent 43.3% more".