Liberty Mutual Conversion to Mutual Co. Challenged

A bill introduced in the Massachusetts Legislature may delay the proposed transformation of Liberty Mutual Insurance Co. into a mutual holding company. The conversion into a mutual holding company would allow Liberty Mutual to issue shares of common stock. Proponents of the pending bill fear harm to policyholders and say that the bill would ensure that policyholders have a meaningful right to participate in any conversion proceedings. The proposed legislation would mandate a one-year moratorium on the conversion plan, during which the impact of conversion on policyholders will be studied. Li...