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PAULA Insurance Company
Estate Trust Officer: Scott Pearce
Email Address: PearceS@caclo.org
Telephone Number: (415) 676-5013
Conservation Date: 04/26/2002
Liquidation Date: 06/21/2002
POC Final Filing Date: 03/31/2003
Closure Date: 10/22/2009
Website: http://www.caclo.org/paula
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Paula Insurance Company, a wholly owned subsidiary of Paula Financial, specialized in the underwriting and servicing of Workers' Compensation coverage for labor-intensive agri-businesses located throughout the major growing areas of the country. Claims processing was largely handled through its affiliates. In accordance with the liquidation order, all Paula policies were canceled as of July 21, 2002.

Out-of-state and field offices were closed in August 2002. All operations were consolidated into the main office located in Pasadena, CA, which remained open until May 2003, when all outstanding operations were transferred to the CLO offices in San Francisco.

The Commissioner released $51,901,405.05 in statutory deposits to the California Insurance Guarantee Association ("CIGA"). Additionally, the Commissioner released approximately $14 million in statutory deposits held in Oregon, Florida and Arizona to the guarantee associations/Insurance departments in those states.

The Commissioner is currently negotiating with reinsurers to commute their contracts with Paula.