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The first alleges Access Insurance Co. is conducting its business and affairs in a manner that threatens to render it insolvent or in a financially hazardous condition in violation of the California Insurance Code.
The second alleges the company has failed to pay over $5 million in premium taxes, interest and penalties.
The first order to show cause alleges that Access Insurance Co. conducts its business in a hazardous manner that results in a risk of loss to the policyholders, creditors and the public.
The order alleges the company has failed to properly account for its future obligations. The company's reserves are $22.5 million deficient and it has failed to pay premium taxes, penalties and interest in excess of $5 million dollars resulting in a total deficiency of nearly $27.2 million available to pay policyholders on their claims.
The department staff alleges that as a result of the deficiency noted above Access Insurance Co. failed to maintain the capital required by law and the insurance commissioner is authorized to place the company under regulatory control.
As a result, the Access Insurance Co. may be subject to conservation or liquidation proceedings. Irreparable loss and injury to the property and business of the company may occur unless the insurance commissioner acts to correct, eliminate, and remedy such conduct and conditions.
The second order to show cause charges Access Insurance Co. with repeatedly failing to pay premium taxes to the state of California, and alleges that the company currently owes more than $5.2 million in delinquent taxes, interest and penalties.
Pursuant to California Revenue and Taxation Code Section 12802, Access Insurance Co.'s certificate of authority shall be revoked unless the company can establish that the taxes, interest and penalties currently outstanding and due have been paid. The department staff alleges that this outstanding tax liability is in addition to the inadequate reserves identified in the first order to show cause.
"As insurance commissioner, my first priority is protecting consumers," said Insurance Commissioner Dave Jones. "To do this I must ensure all insurance companies are following the law, acting with financial integrity, and delivering on their promises to consumers."
A public hearing will be held on Feb. 14 at 10 a.m. at the Department of Insurance in San Francisco after which the insurance commissioner will determine whether to issue a cease desist order and or revoke Access Insurance's Certificate of Authority to transact insurance.
A separate order to show cause, accusation, and notice of noncompliance were filed in July 2017 charging Access Insurance Co. and some of its affiliates with engaging in improper claims handling and improper rating and underwriting practices in violation of the California Insurance Code and the Fair Claims Settlement Regulations. These actions are still pending.
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The purpose of that review is to identify specific legal authority and necessary amendments to rate formulas and the procedures for addressing insurers' rates to pass the decrease in taxes on to California policyholders where authorized.
On Tuesday, Consumer Federation of America issued a letter to Commissioner Jones and other insurance regulators on this very issue asking them to require insurers to file lower rates to reflect the federal tax legislation passed by Congress.
In a letter to insurance commissioners across the country, Consumer Federation shared examples of the impact of the reduced tax rates on insurers profitability and asked the commissioners to ensure these significant savings be passed on to insurance consumers.
"Insurers will now realize significant savings from these recent tax reductions," said Commissioner Jones. "Policyholders should also benefit from the reduced taxes paid by insurance companies."
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The office manager is responsible for the overall management and administration of the chamber's day-to-day work, programs, budget, member relations and enforcement of policies.
The person chosen for the job must represent the chamber in a positive, professional and effective manner at all times.
The office manager is responsible to and reports to the executive committee and the board of directors.
For a full job description, information on pay and how to apply, visit the Clear Lake Chamber Web site at http://clear-lakechamberofcommerce.com/index.php/component/content/article/80-news/81-clear-lake-chamber-is-hiring?Itemid=437.
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Wineries and regional associations should register by Feb. 15, to ensure discounted pouring fees and guarantee VIP passes for the Grand Tasting on May 5.
Planned for May 4 and 5, the Sauvignon Blanc Experience will bring together winemakers, sommeliers, growers, buyers, the media, and wine enthusiasts for two days of learning, presentations, technical tastings and trials, food and wine pairings, and a few surprises.
The Lake County Winegrape Commission previously hosted two International Sauvignon Blanc Symposia in 2002 and 2005.
“Lake County winegrowers are some of the most experienced Sauvignon Blanc growers in the country,” said Debra Sommerfield, President of the Lake County Winegrape Commission. “Sauvignon Blanc was one of the first varietals they reached for when post-Prohibition replanting began in earnest 50 years ago.”
The Lake County winegrowing region, part of the North Coast AVA, has long been known for producing high-quality Sauvignon Blanc fruit and today makes up approximately 14 percent of California’s Sauvignon Blanc acreage.
The commission and its collaborative host partner, the Lake County Winery Association, are building on the success of the previous events and the variety’s new-found popularity. For 2018, the event has been expanded to include a consumer-focused Grand Tasting.
“Sauvignon Blanc has been gaining in popularity among U.S. consumers faster than just about any other wine, according to Nielsen data,” said Maria Brunn, executive director of the Lake County Winery Association. “Sauvignon Blanc has always been a favorite among viticulturalists and winemakers due to its versatility. And now, with the 2018 Sauvignon Blanc Experience, consumers can experience the vast breadth of expression as well, with wines at the Grand Tasting ranging in style from bright and crisp to lush and creamy. I would encourage all Sauvignon Blanc producers to participate in this event.”
The Grand Tasting will feature Sauvignon Blanc wines from across California, as well as from producers throughout the United States and around the world, providing consumers an opportunity to compare the style and character of Sauvignon Blanc wines grown in some of its most important regions.
The event will be held on the grounds of Chacewater Winery in Kelseyville.
Wineries and winery associations from California, the U.S., and abroad may register at www.SauvignonBlancExperience.com/wineries/.
Preliminary program information is available at www.SauvignonBlancExperience.com.