Falls Lake Fire and Casualty Company, a prominent insurance provider of workers' compensation in California, has announced its decision to withdraw its program from the state. The company recently sent a formal notification to the California Department of Insurance, explaining the reasons behind this decision.

The notification, dated June 19, 2023, specified that despite exhaustive efforts, Falls Lake Fire and Casualty Company was unable to secure reinsurance for its Workers' Compensation program. As a result, the company will be issuing nonrenewal notifications to its insureds. 

The California Department of Insurance acknowledged and approved the request on July 19, 2023. Consequently, policyholders of Falls Lake Fire and Casualty Company could begin receiving "nonrenewal notifications for loss of reinsurance" as early as today.

Falls Lake Fire and Casualty Company has played a crucial role in the California Workers Compensation market for many years, earning a reputation as a trusted insurer in the industry. In 2022, the California Department of Insurance reported that the company's written premium volume was more than $108,500,000.

Throughout its tenure in the state, Falls Lake Fire and Casualty Company has been recognized for providing coverage to a diverse range of business segments, including:

- 8827 - Homemaker Services

- 7219 - Trucking Firms

- 5432 - Carpentry—high wage

- 5187 - Plumbing—high wage

- 5403 - Carpentry—low wage

- 9008 - Janitorial Services

- 42 - Landscape Gardening

- 5183 - Plumbing—low wage

- 5474 - Painting—low wage

- 9079 - Restaurants/Taverns

Given the withdrawal of its Workers' Compensation program, policyholders with Falls Lake Fire and Casualty Company will need to secure renewal coverage with a different admitted company in California.

How can WorkCompare.com help?

If you are looking for alternative coverage, we can help. Check out these videos to learn more:

WorkCompare.com Wholesale - How to get a quote

Market Monitor - Clear market insight from WorkCompare.com so you can be confident and decisive

Click here to join our mailing list.

Login to Get an Estimate or Get and ExMod on WorkCompare.com.

Or, register for a free 24-hour trial period.