RSUI To Pay $5M In D&O Settlement Pact With RI

Law360, New York (June 16, 2010, 7:50 PM EDT) -- RSUI Indemnity Co. agreed to shell out $5 million pursuant to a directors and officers liability policy it issued to the agency that handles the state of Rhode Island's trash — the Rhode Island Resources Recovery Corp. — where state auditors said that tens of millions of dollars had been squandered.

The June 8 settlement agreement gives RSUI 15 business days to pay.

In January and February, Rhode Island sent out demand letters to "all former commissioners and certain former employees" who served at RRC between...
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