Superior National Motion to Assure Employee Security Granted

May 1, 2000 9:50 a.m. CDT

Superior National Insurance Group representatives appeared in United States Bankruptcy Court last week, pleading for acceptance of its emergency petition to assure the salaries and benefits of its employees through last week.

Employees of Superior National Insurance Group, Inc., Business Insurance Group, SN Insurance Services, and SN Insurance Administrators were the subject of the emergency petition. The Court granted the emergency petition. Superior National announced it was seeking Chapter 11 protection in a petition filed April 26.

On March 3, the California Department of Insurance seized the assets and operations of SNTL’s four California domiciled insurance subsidiaries.