Business Services Industry
CONDITIONS OF SALE.(News)(cases)(Brief article)
Business Insurance, February, 2007
* RSA USA's parent, London-based Royal & Sun Alliance Insurance Group P.L.C., must submit to "personal jurisdiction'' in Delaware state courts to resolve any legal claims brought by policyholders. * A claims monitor-who will report monthly to the insurance commissioner-will be available to receive policyholder complaints and monitor claims payments.
* Insurers will not pay any dividends until the Delaware Insurance Department concludes all policy claims reasonably capable of resolution have been paid. * No management personnel will be paid compensation beyond base salary until the aforementioned determination has been made. * RSA must submit to the Delaware Insurance Department's ongoing jurisdiction with respect to obligations, including making...
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