WSR 98-18-105
INSURANCE COMMISSIONER'S OFFICE
[Filed September 2, 1998, 11:38 a.m.]
No. G 98 - 39
notice of hearing
In the matter of the acquisition of cascade national insurance company.
| to: | Harold L. Anderson, President
Kenneth I. Tobey, Inc. 2201 - 6th Avenue, Suite 1500 Seattle, Washington 98121 |
| Melodie H. Bankers
Vice President - Governmental Relations Kenneth I. Tobey, Inc. 2201 - 6th Avenue, Suite 1500 Seattle, Washington 98121 | |
| Alan Litner
Fletcher Fox & Litner, P.C. 18 East 48th Street New York, New York 10017 | |
| Robert M. Menke, President
Bankers Insurance Group, Inc. 360 Central Avenue, 15th Floor St. Petersburg, Florida 33701 |
Cascade National Insurance Company (Cascade) is a domestic Washington insurance company. It is a member of Clarendon Insurance Group. The ultimate controlling person of Cascade is Lion Holding, Inc.
Legend Holdings, Inc. (LHI) is a domestic Washington corporation. The incorporator of LHI is Harold L. Anderson of Seattle, Washington. Mr. Anderson is president of Kenneth I. Tobey, Inc., a Seattle-based managing general insurance agency. LHI has announced its intention to acquire Cascade.
The acquisition of a domestic Washington insurance company is controlled by Chapter 48.31B RCW. Pursuant to RCW 48.31B.015 and WAC 284-18-910, a Form "A" submission was made by the applicants. The Form "A" was deemed complete August 31, 1998. The determination that the Form "A" was complete begins the 60 day period within which the Insurance Commissioner must hold a hearing and decide whether to approve the change of control of the companies.
you are hereby notified that a hearing will be held commencing Monday, September 28, 1998, at 10:00 a.m. in the Conference Room of Building 4, RoweSix at 4224 - 6th Avenue, S.E., Lacey, Washington 98503, to consider the proposed acquisition of Cascade.
The hearing will be held under the authority granted the Commissioner by Chapter 48.04 RCW and RCW 48.31B.015. RCW 48.31B.015 lists the findings which must be made before approval can be given to any proposed acquisition of control over a Washington domestic insurer.
The basic facts relied upon are those set forth in the Form "A" filed with the Commissioner. The complete Form "A" will be made part of the record of the hearing.
The Commissioner has not taken, and will not take, any position on this matter prior to entry of the hearing order.
All parties may be represented at the hearing. They may examine witnesses and fully respond and present evidence and argument on all issues involved, as required by the Administrative Procedure Act. The hearing will be governed by the Administrative Procedure Act, Chapter 34.05 RCW, and the model rules of procedure contained in Chapter 10-08 WAC. A party who fails to attend or participate in any stage of the proceeding may be held in default in accordance with Chapter 34.05 RCW.
The Commissioner will be represented by Dennis Julnes, Chief Financial Analyst, James E. Tompkins, Assistant Deputy Commissioner, and Ronald Pastuch, Financial Analyst.
Assistant Deputy Commissioner John B. Woodall has been designated to hear and determine this matter. His address is Office of the Insurance Commissioner, Post Office Box 40259, Olympia, Washington 98504-0259. His telephone number is (360) 407-0535.
entered at olympia, washington, this 2nd day of September, 1998.
Insurance Commissioner Assistant Deputy Commissioner for Company Supervision
DEBORAH SENN
By:
JOHN B. WOODALL