Applied Underwriters’ California Ins Company More Controversial Acts
Amidst charges of unapproved and uncollateralized loans to affiliates, unapproved property transfers, the California Department of Insurance’s Conservation and Liquidation Office says it is drafting a unilateral “rehabilitation” plan for California Insurance Company (CIC). The plan will transfer its policies to another carrier and resolve the numerous filed lawsuits pending between Applied Underwriters / CIC…