Receiver Reports Plans for Distribution of Legion Indemnity Dividend

The Illinois Office of the Special Deputy Receiver (OSDR) announced on Monday that it expects that a second dividend of 10% from Legion Indemnity Co. will be distributed by May 31 on "timely filed claims allowed at the policyholder priority level (d) of the Illinois statutory distribution scheme."Legion Indemnity was ordered into liquidation on April 9, 2003. On Dec. 28, 2011, the supervising court approved a 90% dividend distribution on timely-filed and allowed claims at policyholder priority level (d) in the amount of $37,473,049.36.Priority level (d) includes claims by policyholders, benefi...