INSURANCE

Quackenbush Sees Resolution Over Quake Insurance: State Insurance Commissioner Chuck Quackenbush refused to release a list of companies that have reportedly threatened to cancel homeowners policies for up to 1 million California families. Quackenbush spokesman Richard Weibe said the commissioner saw no need to issue such a list and that he was encouraged that there would be a resolution soon to the impasse over earthquake insurance, which has caused the looming crisis in homeowners coverage. The state Legislature missed the Monday deadline to approve an underwriting plan for earthquake policies to reduce the risk to insurers, who are required to offer quake policies to all their California homeowners insurance customers. In a letter, Consumers Union and Proposition 103 Enforcement Project cited reports “that certain insurers are threatening to cancel more than 1 million homeowners policies beginning this summer” unless the plan is approved and urged him to release their names.