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Executive Life Policyholders get $295 million distribution

Former Executive Life Insurance Company policyholders who “opted in” will share $295 million in addtional distributions from an arbitration award. This resulted from a dispute being resolved between the National Organization of Life & Health Guarantee Associations and the California Department of Insurance.

See the full press release from the California Department of Insurance:

http://www.insurance.ca.gov/0400-news/0100-press-releases/0060-2007/release002-07.cfm

See also the Business Insurance article on this same topic:

http://www.businessinsurance.com/cgi-bin/news.pl?newsId=9169