News Notes: Insurance Commissioner Seizes Workers’ Comp Insurer

The state Insurance Commissioner has taken over control of Golden Eagle Insurance Co., California’s third largest workers’ compensation carrier. The action grew out of concerns about Golden Eagle’s financial solvency. The Insurance Commissioner is optimistic that several insurers will join together to operate Golden Eagle’s business through a new company, San Diego Casualty Insurance Co. If the court approves the deal, employers and workers should experience no disruption in coverage or payment of claims.