Mass., Virginia in settlement negotiations with Pru.(Prudential Insurance Company of America)

National Underwriter Life & Health-Financial Services Edition, January, 1997 by King, Carole

Massachusetts and Virginia may soon settle class action lawsuits against Prudential Insurance Company concerning the firm's alleged market misconduct. California and Florida have also opted out of the settlement the insurance firm is negotiating to cover policyholders in the 46 other states, but those two states are expected to take Prudential to court.

Regulators in Massachusetts and Virginia last week moved closer to settlement negotiations with Prudential concerning restitution to policyholders victimized by the insurer's alleged market misconduct, according to insurance department spokespersons.

Massachusetts' regulators met with Prudential representatives on January 17, according to department spokesperson Lisa Birknes, who said "Prudential was...

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