Amwest Insurance Agrees to Rollback of Rates
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Amwest Insurance Group Inc. in Woodland Hills said it has agreed to a $1.93-million rate rollback as part of a Proposition 103 settlement.
The property and casualty insurer said it entered into a stipulation and consent order with the California Department of Insurance that settles the rate rollback obligations of its subsidiaries, Amwest Surety Insurance Co. and Far West Insurance Co., that were required by the legislation.
Amwest said the settlement would not affect its future earnings because it had established reserves to cover the amount.
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