We have been requested by the California Insurance Department, acting in accordance with and pursuant to Section 1765.1 of the Insurance Code, to advise all Surplus Line brokers and Special Lines Surplus Line brokers that effective November 2, 1994, unless and until notified by the Department to the contrary, the above insurer should not be employed for placements of California business. No further new or renewal business may be placed with the company.
Please see attached documentation for further information.
James S. Pugh
Assistant Manager
JSP/Ijl
Enclosures
DEPARTMENT OF INSURANCE
45 Fremont Street
San Francisco, CA 94105
November 2, 1994 The Surplus Line Association of California
388 Market Street, Suite 1150
San Francisco, CA 94111
Subject: Anglo American Insurance Company Limited (England)
0rder Pursuant to California Insurance Code Section 1765.1
Dear Gentle People:
Please issue a bulletin to your members notifying there that Anglo American Insurance Company Limited is unacceptable pursuant to CIC Section 1765.1 for placement of new or renewal business. Attached is a copy of the Department's order for your reference. If you have any questions, please contact me.
Very truly yours,
Carol A. Fistler
Staff Counsel III
(415) 904-5674
cc: Janice Karr
Victoria Sidbury
Karen Deibert
DEPARTMENT OF INSURANCE
45 FREMONT ST. 24TH FLOOR
SAN FRANCISCO, CA 94105
November 2, 1994
Ms. Karen Deibert
LeBoeuf, Lamb, Greene MacRae
125 West 55th Street
New York, New York 10019-5389
Subject: Anglo American Insurance Company Limited (England) Order Pursuant to CIC 1765.1
Dear Ms. Deibert:
Pursuant to California insurance Code Section 1765.1 Anglo American Insurance Company Limited is unacceptable for placement of further new or renewal business. This order is based on the attached letter whereby Anglo-American Insurance Company Limited withdrew from the California market, writing no new or renewal business.
Very truly
Carol A. Fistler
Senior Staff Counsel
(415) 904-5674
cc: Janice E. Karr, General Counsel
Victoria S. Sidbury, Bureau Chief of Corporate Affairs
Patricia K. Staggs, Bureau chief of Compliance
Surplus Lines Association
NAIC c/o Maximiliane Moody, NAIIO
LEBOEUF, LAMB, GREENE & MACRAE
October 18, 1994
CERTIFIED MAIL
RETURN RECEIPT REOUESTED
Hon. John Garamendi
Insurance Commissioner
Department of Insurance
State of California
45 Fremont Street, 23rd Floor
San Francisco, California 94105
Re: Anglo American Insurance Company Limited
("Anglo American") Surrender of Surplus Lines Eligibility
Dear Commissioner Garamendi:
We serve as special Counsel in the United States to Anglo American Insurance Company Limited ("Anglo American") .
As you may -know, the NAIC recently removed Anglo American from its Non-Admitted Insurers quarterly Listing. Under these circumstances, Anglo American has instructed us to advise You of its decision to surrender its surplus lines eligibility in California effective immediately.
As previously announced, Anglo American intends to handle all claims and accounts servicing obligations in a responsible and orderly fashion. Anglo American continues to maintain substantial trust funds for the protection of its U.S. surplus lines policyholders.
Please do not hesitate to contact us if you have any questions.
Sincerely yours,
Karen s. Deibert
KSD:DD