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Article: Golden Eagle decides to fight back. (Golden Eagle Insurance Co. alleges favoritism by the Department of Insurance)
- Article from:
- Business Insurance
- Article date:
- September 23, 1996
- Author:
CopyrightCOPYRIGHT 1996 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Insurer counters underreserving charges with conspiracy theory
SAN DIEGO - Golden Eagle Insurance Co. is putting its money where its mouth is in challenging California regulators' assertion that the insurance company is underreserved.
The San Diego-based multiline insurer is offering a $100,000 reward to anyone who can help it prove in court that the Insurance Department is conspiring against it.
The reward was announced Thursday at a gathering of some 200 independent agents in Sacramento, Calif.
The meeting was called by Golden Eagle CEO John C. Mabee, who claims the department is "bowing to pressure brought by other carriers who just can't ...