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THE CALIFORNIA INSURANCE COMPANY RECEIVES DEPARTMENT OF INSURANCE APPROVAL; WILL WRITE NEW BUSINESS EFFECTIVE APRIL 1 SAN FRANCISCO, CA - March 23, 2005 - The California Insurance Company (CIC) today announced approval by the California Department of Insurance of its recent request to begin writing state-wide workers' compensation insurance. "CIC will focus on small to medium-sized enterprises, particularly in Blue Collar industries, with premiums ranging from $5,000 to $500,000," explained Carl DeBarbrie, CIC's senior vice president. "CIC will offer superior customer service, flexibility and simplicity - particularly in the area of risk management," DeBarbrie said. Applied Underwriters, the industry leader in integrated workers' compensation solutions, will serve as CIC's largest general agent through its licensed agency. CIC also will be appointing other agencies on a select basis. "CIC will immediately entertain workers' compensation new business submissions with April 1st effective dates," noted DeBarbrie. "This is an important step forward in growing California's competitive market, and great news for those small and medium-sized California businesses looking for high quality and affordable choices in the state's $20-billion workers' compensation insurance market." For additional information, please contact Carl DeBarbrie, CIC's senior vice president, at 415-656-5066, or via e-mail, carl.debarbrie@calinsco.com. ---- |
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