Law Practice
Aug. 27, 2008
Court Overturns $241 Million Insurance Award to Regulators
The largest insurance failure in California history, stemming from the 1991 demise of Executive Life Insurance Co., unleashed new aftershocks Monday when the 9th Circuit Court of Appeals erased a $241 million restitution award won by state regulators and sent the case back to U.S. District Court to recalculate damages.
Daily Journal Staff Writer
This article appears on Page 2
LOS ANGELES - The largest insurance failure in California history, stemming from the 1991 demise of Executive Life Insurance Co., unleashed new aftershocks Monday when the 9th Circuit Court of Appeals erased a $241 million restitution award won by state regulators and sent the case back to U.S. District Court to recalculate damages.
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