Former Rhode Island Governor Bruce Sundlun has settled a lawsuit filed by a British insurance market that claims he owes about $300,000.
Lawyers for Sundlun and the Society of Lloyd’s, based in England, say they’ve reached an agreement but won’t say how much, if anything, Sundlun must pay.
The agreement comes just before Sundlun was supposed to stand trial in U.S. District Court.
Lloyd’s claimed that Sundlun failed to pay a required premium for reinsurance. It won a judgment against him in an English court a decade ago.
Sundlun had argued that he believed his membership was honorary, that he ceased underwriting in 1993 and that he was not properly notified of the lawsuit.
Topics Lawsuits Excess Surplus Lloyd's
Was this article valuable?
Here are more articles you may enjoy.
State High Court Weighs in on Woman Taken for Organ Donation But Was Still Alive 
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
Chubb Q1 Net Income Increases 74% on Fewer Catastrophe Losses 
Business Interruption Claims Arising From the Middle East Conflict 
