We have been requested by the California Department of Insurance ("Department"), acting in accordance with and pursuant to California Insurance Code Section 1765.1 of the California Insurance Code, to advise all Surplus Line brokers and Special Lines Surplus Line brokers that effective January 12, 1995, 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.
The Order is based on the fact that Transco Syndicate #1, Ltd. ("Syndicate") has advised the Department of its decision to voluntarily cease writing new and renewal business in California. Please refer to the attached letters be Carol A. Harmon, Staff Counsel, California Department of Insurance, and Andrew G. Loeb of McNitt, Edwards & Schraner for further information.
James S. Pugh
Manager
JSP/jcv
Attachments
STATE OF CALIFORNIA
DEPARTMENT OF INSURANCE
45 FREMONT STREET, 24TH FLOOR
SAN FRANCISCO, CA 94105
CHUCK QUACKENBUSH, Insurance Commissioner
January 12, 1995
The Surplus Line Association of California
388 Market Street, Suite 1150
San Francisco, CA 94111
Subect: TRANSCO SYNDICATE #1, LTD.
(Illinois)
Order Pursuant to California insurance Code Section 1765.1
Dear Gentle People:
Pursuant to California Insurance Code Section 1765.1, surplus line brokers licensed by the state of California have been ordered to place no further insurance business with Transco Syndicate #1, Ltd.
This Order is based on the letter whereby counsel for Transco Syndicate #1, Ltd. has advised the Department of the decision of Transco Syndicate #1, Ltd. to voluntarily cease writing new and renewal business in California.
Please issue a bulletin to your members so notifying them.
Attached please find a copy of the Department's order Pursuant to CIC S 1765.1.
Very truly yours,
Carol A. Harmon
Staff Counsel
(415) 904-5966
cc: William Palmer, CDI General Counsel
Victoria S. Sidbury, CDI Assistant Chief Counsel
STATE OF CALIFORNIA
DEPARTMENT OF INSURANCE
45 FREMONT STREET, 24TH FLOOR
SAN FRANCISCO, CA 94105
CHUCK QUACKENBUSH, Insurance Cornmissione
January 12, 1995
Andrew G. Loeb, Esq.
McNitt, Edwards, & Schraner
701 B Street; 11th Floor
San Diego, CA 92101-8103
FAX: (619) 696-S666
RE: TRANSCO SYNDICATE #1, LTD. ORDER PURSUANT CIC S 1765.1
Dear Mr. Loeb:
Pursuant to California Insurance Code Section 1765.1, surplus line brokers licensed by the
state of California are hereby ordered to place no further insurance business with Transco
Syndicate #1, Ltd. ("Syndicate").
This Order is based on the attached letter whereby you, as counsel for Syndicate, have advised the Department of Syndicate's decision to voluntarily cease writing new and renewal business in California.
Cordially,
Carol A. Harmon
Staff Counsel
(4 15) 904-5966
Law Offices
Roger L. McNitt McNITT EDWARDS & SCHRANER
Richard P. Edwards A Professional Corporation
Robert K. Schraner Tenth Floor
Kenneth A. Zak 701 B Street
Andrew G. Loeb
San Diego, California 92101-8103
Tel. (619) 696-5600
PLFASE REFER TO Fax. (619) 696-5666
OUR FILE NUMBER:
January 10, 1995 2449-002
Honorable Charles Quackenbush
Insurance Commissioner
State of California
Department of Insurance
45 Fremont Street
San Francisco, California 94105
Attention: Carol A. Harmon Staff Counsel
Re: Transco Syndicate #1, Ltd.
Dear Commissioner Quackenbush:
Transco Syndicate #1, Ltd. ("Syndicate") has authorized us, as its California regulatory counsel, to formally notify you of its decision to discontinue writing new and renewal surplus line business on California risks. This action was based on the evolving marketing plans of Syndicate and the fact that Alpine Insurance Company ("Alpine"), an affiliate of Syndicate, has recently been writing approximately 90% of the consolidated Syndicate-Alpine California business and intends to continue to expand its California writings. Depending on future market conditions, Syndicate reserves the right to submit an application for surplus line listing pursuant to California Insurance Code Section 1765.1 in the future.
While Syndicate (by its letter dated November 15, 1994) has previously brought its decision to withdraw from the California surplus line market to the attention of those California surplus line brokers with whom it has done business in the past, Syndicate hereby requests that the Department issue a formal order advising all California surplus line brokers and the Surplus Line Association of California of Syndicate's decision.
Law offices
McNITT, EDWARDS & SCHRANER
Honorable Charles Quackenbush
January 10, 1995
Page 2
Thank you for your attention to this matter.
Andrew G. Loeb
For the Firm
AGL/pa