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FACTSHEET

Insurers Made Campaign Contributions to Quackenbush Which He Used to Pay Off Personal Campaign Debts

A detailed analysis of the campaign finance records of Insurance Commissioner Chuck Quackenbush and his wife Chris Quackenbush, who made a failed bid for State Senate in 1998, provide further evidence of inappropriate behavior. Commissioner Quackenbush has been under scrutiny because of "Insurancegate," in which he appears to have protected insurance companies from fines in exchange for campaign contributions and donations to non-profits that have benefited Mr. Quackenbush.

During 1999 Commissioner Quackenbush received over $390,000 in campaign contributions from insurance companies, despite the fact that his term runs through 2002. Due to term limits, Commissioner Quackenbush can not run again for Insurance Commissioner. Commissioner Quackenbush has raised over $6.4 million from insurance industry sources since he first ran for office in 1994. At the end of this page is a table 1999 insurance industry sources that contributed to Quackenbush in 1999.

Between November 7, 1998 and November 30, 1999 Chuck Quackenbush transferred $260,000 from his campaign committee to his wife's campaign fund (she lost the race for the Senate on November 3, 1998).

Between May 19, 1998 and December 14, 1999 Chris Quackenbush repaid $254,000 in loans made by herself and the family company, Ski Park Boat & Ski, to her Senate campaign. Additionally, she paid $5,424.65 in interest for the loans. Mrs. Quackenbush paid the family $259,424.65 in total, virtually the same amount transferred to her by her husband, Commissioner Quackenbush. Some of this money was used to pay the mortgage on the Quackenbush home.

Many of the loans received by Chris Quackenbush from sources other than the Quackenbush family were forgiven rather than repaid. She paid no interest on any of these loans. Some of the family loans, however, were interest bearing, at rates of 10% for the personal loan and 11.5% for the business loan.

1999 Insurance industry contributions to Commissioner Quackenbush:

Allstate$50,000
20th
Century
$5,000
Fireman's
Fund
$20,000
Fremont
Compensation
$93,350
Metropolitan
Life
$20,000
Progressive
$10,000
Mercury General
$50,000
USAA
$10,000
Safeco
$10,000
Carl Linder, Chairman Amer.
Financial Group
$15,000
Kemper
Insurance Companies
$5,000
CNA
Financial Corp.
$10,000
Liberty
Mutual Insurance
$2,500
CA
Casualty Indemnity
$5,000
Chamlian
Financial Group
$5,000
California
Indemnity Insurance
$2,500
Pacific
Employers Insurance/CIGNA
$10,000
Amer.
Bankers Life Assurance CO. of Florida
$27,000
Civil Service Employees Ins Co.
$1,000
The Doctors' Co
$1,000
Pacific Select
$1,000
Rapidinsure.com
$5,000
Donald Martin, CEO Cal-Surance
$5,000
Kramer-Wilson Insurance
$1,000
Word&Brown Ins. Admin.
$2,500
Aurora Nat'l Life Assurance
$2,500
Ca. Insurance Wholesalers
$1,000
Trans Cal Assoc.
$2,500
Warner Pacific Insurance$10,000
E.W. Blanch Co.
$10,000


All contributions made to the Chuck Quackenbush Committee (ID 970821) -- 1999

Chuck Quackenbush Committee transfers to the Chris Quackenbush 1998 Senate campaign
11/07/98$80,000
12/23/98$5,000
03/16/99$50,000
06/15/99$25,000
10/07/99$50,000
11/18/99$25,000
11/30/99$25,000
TOTAL$260,000

Chris Quackenbush uses transferred money to pay off mortgage and loan from Quackenbush business PLUS interest
LenderDate MadeDate PaidAmountInterest RateAmount PaidInterest Paid
Self (Chris Quacken-bush)02/28/98 
03/18/99
$25,00010.0% 
$25,000
 
Ski Park Boat & Ski (Quacken-bush family business)03/12/98 
05/16/98
05/19/98
07/01/98
08/18/98
10/13/98
11/06/98
$75,0000% (as shown to the right, interest rate was changed to 11.5%) 
 
$50,000
 
 
 
$25,000
 
$503.93
$781.36
$756.18
$756.11
$755.60
Ski Park04/16/98 
11/06/98
$25,00011.5% 
$25,000
 
Self04/28/98 
12/10/99
$20,00010.0% 
$4,000
 
Ski Park05/07/98 
11/06/98
$30,00011.5% 
$30,000
 
Self05/11/98 
10/14/99
$50,00010.0% 
$50,000
 
Self05/12/98 
11/19/99
$25,00010.0% 
$25,000
 
Self05/18/98nbsp;
10/02/98
$200,00010.0%  $781.36
Self05/22/98 $25,00010.0%  
Self09/13/98 $40,00010.0%  
Ski Park 09/29/98 
12/08/98
12/16/98
$15,0000%  
$2,500
$12,500
 
 
$1,090.11
Self12/18/98 
12/22/98
$5,0000% 
$5,000
 
TOTAL  $535,000 $254,000$5,424.65


Total paid to Quackenbush family: $259,424.65.
This is virtually the same amount that was transferred to the campaign by Chuck Quackenbush.



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