Insurance Commissioner Dave Jones Announces Settlement With Insurer Over Noncompliance Issue
News: 2012 Press Release
Insurance Commissioner Dave Jones today announced that XL Specialty Insurance Company (XL) has agreed to pay the California Department of Insurance (CDI) a fine in the amount of $298,419, along with a refund of $10,710. The settlement is the conclusion of a noncompliance action that found XL used unapproved rating factors in calculating earthquake premiums.
"I am pleased we were able to resolve this matter,"
XL primarily focused on offering commercial earthquake coverage to condominiums in
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