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December 28, 2004
Zenith Receives Letters of Inquiry from California Department of Insurance
Zenith National Insurance Corp. (NYSE:ZNT) today announced that its California domiciled insurance subsidiaries have received letters of inquiry from the California Department of Insurance ("California DOI") requesting information about Zenith's arrangements and dealings with its agents and brokers.
In its request, the California DOI states that it is concerned by allegations made or implied in legal proceedings recently instituted by the State of New York that certain insurance carriers may have been involved in or been aware of the activities alleged in those proceedings. The California DOI further states that it is requiring certain California domestic insurance companies, including Zenith's California domiciled subsidiaries, to assist them with a review of various aspects of the arrangements between the companies and agents and brokers.
Zenith intends to fully cooperate and respond to the California DOI's inquiry and believes that its arrangements and dealings with agents and brokers are in compliance with all applicable statutes and regulations.
Posted by Tom Troceen