Illegal WC Policies Canceled at the Border By Robert Warne - June 19, 2003
In an effort to curb unauthorized workers’ compensation insurance policies from penetrating California’s regulatory borders the insurance commissioner has fired off his latest Cease and Desist Order to put the originators of such business on guard.
Insurance Commissioner John Garamendi announced June 18, that the California Department of Insurance (CDI) had issued a cease and desist order on Insurance Company of the Americas (ICA).
Headquartered in Florida and New York, ICA managed to elude the commissioner’s radar screen a little longer than its sister company, Oriska Insurance Company, which was ordered to cease and desist in April.
In his statement, Garamendi warned all business owners that if they have a workers' compensation policy with ICA, they are in violation of the California Insurance Code and Labor Code and could be fined.
If ICA continues to write insurance in violation of the cease and desist order, the Commissioner has authority to impose a fine of up to $5,000 for each day of infraction.
Adjuster / Examiner Claims Examiner Santa Ana Unified School District Santa Ana, CA
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