INSURANCE

Garamendi Seeks to End Rebate Delay: Insurance Commissioner John Garamendi said he asked the California Supreme Court to reverse a lower-court ruling delaying payment of $120 million in Proposition 103 rebates to policyholders of 20th Century Industries. The high court on Aug. 18 rejected Woodland Hills-based 20th Century’s challenge to Garamendi’s regulations for implementing the 1988 insurance rate-cutting initiative. But 20th Century later obtained a stay of the ruling in Los Angeles Superior Court pending the company’s planned appeal to the U.S. Supreme Court. Garamendi argues that the Superior Court lacks the authority to stay the high court’s order. Garamendi also said he plans to announce today the specific rollback obligations of an additional 28 companies under Proposition 103. His original rollback order in October, 1991, listed only 14 insurers, including 20th Century.