Insurer:  California Regulators Filed Bad Faith Conservatorship Plan On Former Affiliate

(October 22, 2020, 1:00 PM EDT) -- SACRAMENTO, Calif. — Applied Underwriters Inc. filed a complaint on Oct. 20 in California federal court accusing the state’s insurance department of an “unlawful and bad faith campaign” to place a former affiliate of Applied into conservatorship in response to several favorable rulings to Applied in litigation involving its reinsurance participation agreement (RPA) with insureds (Applied Underwriters, Inc., et al. v. Ricardo Lara, et al., No. 20-1029, E.D. Calif.)....