Calif. Inks $15M Deal Over Workers' Comp. Firm's Collapse

Law360, Los Angeles (September 11, 2012, 7:06 PM EDT) -- A Los Angeles judge on Tuesday approved a $15 million settlement between California’s insurance commissioner and a litigation trust created after the collapse of workers’ compensation insurer Superior National Insurance Co. in 2000.

Los Angeles Superior Court Judge Kenneth R. Freeman signed off on a deal among the insurance commissioner, the SNTL Litigation Trust formed in the wake of Superior’s collapse and the trust’s oversight committee, allowing the insurance commissioner to use reserve funds from Superior’s liquidation to indemnify the trust for up to $15 million...
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