INSURANCE
From Times Staff and Wire Reports
Plan to Bail Out Policyholders Filed: The New Jersey Insurance Department has filed a plan to bail out policyholders of insolvent Mutual Benefit Life Insurance Co. As expected, policyholders of the Newark-based company will be protected in full by state guaranty associations and a group of insurance companies, led by Prudential Insurance Co. of America and Metropolitan Life Insurance Co. The plan is now before a state court judge in Trenton awaiting approval. The public has 90 days to submit objections to the court.
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