OTHER NEWS - Sept. 11, 1992

Orange County Insurer Declared Insolvent: A Superior Court judge concurred with state Department of Insurance findings that an Orange County-based insurer is insolvent and should be liquidated, Insurance Commissioner John Garamendi announced. Assets of Western International Insurance Co. will be sold off and the proceeds distributed to claimants and creditors in order of priority, the commissioner said in a statement. The Huntington Beach-based insurer’s downfall was prompted by more than $22 million in policyholder claims flowing from the spring Los Angeles riots and a $2.35-million out-of-court settlement the company recently paid to a former executive, the commissioner’s statement said. A call to the company’s offices went unanswered after business hours.