A major and long-running source of insider information about the politics of California's insurance industry is gone, an apparent victim of the state's moribund economy.
Ted Huntington, publisher of The Scribe's Insurance Bulletin (formerly Smart's California Insurance Report), announced Tuesday that declining subscriptions had compelled the parent company, Santa Clarita-based Pale Blimp Marketing, to cease its weekly publication.
"For the past couple years the subscriber base for the newsletter has been eroding at a rapid rate," Huntington told subscribers in an email. "We had hoped to keep the newsletter operating on a shoestring budget, but for the past several months we have been running in the red. The bottom line is that we simply are not receiving enough subscription renewals to cover our expenses. We had attempted to find another investor to potentially revive the publication, but that was not successful. The situation is now dire, and the newsletter account has become insolvent."
For many years, mostly under its former name, the newsletter provided subscribers in the Capitol and in the insurance industry with detailed information on the Department of Insurance's actions and the ups and downs of the State Compensation Insurance Fund, among other issues.