National Organization Of Health And Life Guaranty Associations

Hearings to determine who should be allowed to buy failed Executive Life Insurance Co. began Monday in Los Angeles Superior Court amid uncertainty about the insurer's rehabilitation caused by another court ruling. Judge Kurt Lewin ruled Friday that investors who bought $1.85 billion in municipal bonds backed by guarantee insurance contracts issued by Executive Life should be afforded the same protections as policyholders.

Hearings to determine who should be allowed to buy failed Executive Life Insurance Co. began Monday in Los Angeles Superior Court amid uncertainty about the insurer's rehabilitation caused by another court ruling. Judge Kurt Lewin ruled Friday that investors who bought $1.85 billion in municipal bonds backed by guarantee insurance contracts issued by Executive Life should be afforded the same protections as policyholders.