California banned Insurance Corp. of America from...

California banned Insurance Corp. of America from doing business in the state. The Department of Insurance said ICA was not licensed or regulated by any other state or governmental entity worldwide nor is it operating through a licensed surplus line broker or registered in the state as a risk retention group. ICA’s continued operation in the state could lead to felony charges, the agency said. It said there would be a public hearing in San Francisco on Sept. 17 on ICA’s alleged violations of state laws. ICA was identified as a West Virginia firm based in Boca Raton, Fla. It insures transportation risks, principally taxi and limousine operations.