Former Executive Life Insurance Company policyholders who “opted in” will share $295 million in addtional distributions from an arbitration award. This resulted from a dispute being resolved between the National Organization of Life & Health Guarantee Associations and the California Department of Insurance.
See the full press release from the California Department of Insurance:
http://www.insurance.ca.gov/0400-news/0100-press-releases/0060-2007/release002-07.cfm
See also the Business Insurance article on this same topic:
http://www.businessinsurance.com/cgi-bin/news.pl?newsId=9169