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Judge OKs $110.8M Distribution Of Insurer In Conservatorship’s Settlement Funds

(August 3, 2016, 10:03 AM EDT) -- LOS ANGELES — A California judge on July 26 approved the state’s insurance commissioner’s application for an order allowing him to distribute $110.8 million of a $200 million settlement (Insurance Commissioner of the State of California v. Executive Life Insurance Company, No. BS 006912, Calif. Super., Los Angeles Co.).

(Order available. Document #10-160826-011R.)

The Los Angeles County Superior Court on April 11, 1991, appointed California’s insurance commissioner as Executive Life Insurance Co.’s (ELIC) conservator.

Dave Jones, the state’s current insurance commissioner, on July 9, 2015, applied...
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