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
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