Insurer Likens Insurance Organizations To Gangsters

Law360, New York (October 5, 2011, 5:14 PM EDT) -- A Texas insurer on Monday accused the National Association of Insurance Commissioners of organized crime for allegedly pulling the strings in a 20-year fight in which the plaintiff was denied $14 million owed by the estate of a liquidated insurance company.

According to the immediate complaint filed in New York federal court, Petrosurance Inc. tried for years to collect money left over in the estate of The Oil & Gas Insurance Co., of which Petrosurance was the sole shareholder. The company was shut down in 1990...
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