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The CDI, Enforcement Branch, is charged with responsibility of detecting, investigating and arresting those who commit insurance fraud, in order to protect the public from economic loss and distress. In 1979, Chapter 12 of the California Insurance code established the "Bureau of Fraudulent Claims" to investigate criminal insurance violations.
Pacific Gas & Electric Company, 2017 California wildfires, 2018 California wildfires; Panama Papers International. Leak of hundreds of thousands of confidential documents pertaining to the bank accounts and companies held by politicians, High-net-worth individuals and other people, some in off-shore tax havens. [35]
The company went public in 1964. By 1972, it was one of the ten largest life insurance companies in the United States, as well as the fastest growing one, with (claimed) assets of $500 million. [2] The company created more than 60,000 bogus life insurance policies that it sold to reinsurance companies for a fee.
The state Department of Insurance said in a news release they conducted an audit and found between Dec. 1, 2018 and Dec. 1, 2021, Kubar reported less than $1 million in payroll when he actually ...
The state Department of Insurance issued a new regulation last month meant to turn the tide of some of the largest insurance companies' refusal to take on new customers in California or decisions ...
State Farm had the largest California market share in 2023 with 19.9%, followed by Farmers Insurance with 14.9%, as well as CSAA Insurance Exchange and Liberty Mutual with 6.5% each.
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]
Two title insurance companies with ties to Lakewood signed off on loans for a real estate investor who later pleaded guilty for participating in a $165 million mortgage fraud conspiracy, federal ...