Golden Eagle Suit Against CA DOI

Industry sources have recently reported in the media that Golden Eagle Insurance Corp. has sued the California Department of Insurance (DOI) for $260 million. The suit alleges that the DOI has failed to pay Golden Eagle for claims administration services and that Golden Eagle was not paid everything it was entitled to receive on reinsurance funds the DOI obtained from reinsurance treaties covering old claims related to the old Golden Eagle Insurance Co., which was seized in 1997 and sold Liberty Mutual Insurance Group. In response to workcompcentral inquiry, General Counsel for Golden ...