CDI Takes Over California Insurance Co. After Carrier Tries to Leave State

The California Department of Insurance is taking over operations of California Insurance Co. after the workers’ comp carrier tried to merge with a New Mexico-based insurer without the department's approval. San Mateo County Superior Court Judge George Miram issued an order handing control of California Insurance Co. to the insurance department’s Conservation and Liquidation Office on Monday. CDI has authority to conduct business on behalf of California Insurance, including paying claims, and can seize the insurer’s assets as it deems appropriate. In addition, the order ...