Calif. orders Golden Eagle to add $138M.(Insurance Commissioner Chuck Quackenbush orders insurer to raise reserves) From: National Underwriter Property & Casualty-Risk &Benefits Management | Date: September 23, 1996| Author: Sclafane, Susanne | COPYRIGHT 1996 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

Liability insurer Golden Eagle Insurance Co. faces imminent investigation by the California Insurance Commission, after department examinations revealed a homeowners and earthquake policy that undermines Golden Eagle's solvency. The company's dubious premium-to-surplus ratios and a lack of sufficient loss reserves are also a point of contention for the commission, which is requiring a hearing for the insurer. The commission is demanding that Golden Eagle raise its reserves $138.5 million, whi...