Zenith Will Fight Order for Prop. 103 Rollback
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Zenith National Insurance said it will fight a rollback of the insurance rates of its CalFarm Insurance Co. unit, totaling $6.9 million, as proposed by state Insurance Commissioner Roxani M. Gillespie.
Gillespie’s action last week was part of her implementation of Proposition 103, the reform initiative passed in November.
Zenith, based in Woodland Hills, said it would “vigorously oppose this action as unjustified.” But the company said that if the rollback was upheld, reinsurance available to Zenith would cut the rollback to about $3 million after taxes.
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