OTHER NEWS - Aug. 24, 1992

Oakland Fire Still Smoldering: Insurance Commissioner John Garamendi released a survey showing that about 34% of total-loss claims from the October, 1991, Oakland fire remain unresolved. He praised some insurers for settling claims quickly and paying benefits beyond policy limits, but he rebuked others for delays. Chubb Group, which Garamendi said had settled only 5% of its total-loss claims, quickly shot back a denial, asserting that 51 of its 60 such claims--85%--had been settled. Meanwhile, Western Insurance Information Services, a trade group, released its own survey showing that 83% of all claims have been paid, at an average of $351,000 per claim. Garamendi estimated that insured losses will total $1.3 billion.