NU Online News Service, June 15, 3:09 p.m. EDT
California Insurance Commissioner Steve Poizner has announced a settlement of four lawsuits that provides the liquidation estate of failed workers' compensation insurer Fremont Indemnity Company with up to $37.3 million.
The arrangement, disclosed Friday, will permit four former directors and officers, who were sued by the California Insurance Department over actions that allegedly led to Fremont's collapse, to pursue claims for retirement monies.
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