R.I. Regulators Assume Control Over Insurer

NU Online News Service, May 5, 4:23 p.m. EDT?The Rhode Island insurance officials said they took control of the state's Pawtucket Mutual Group late last week, a move prompted by five years of amounting losses that weakened the 155-year-old property-casualty insurer.

Rhode Island Department of Insurance regulators said that this is the first time in more than 10 years that Rhode Island has taken such action against an insurance company.

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