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Investors Equity Life Insurance Company of Hawaii Ltd. last week launched a program to assist policyholders of financially distressed life insurance organizations.
The Excel Exchange Program is designed to bolster confidence in the industry while giving policyholders who have coverage concerns an easy way to shift to a sounder insurance carrier, according to president Kenneth K.S. Fong.
Troubles in the industry are rattling some policyholders, industry executives said.
For example, a surprise $7.5 billion claim filed by the Resolution Trust Corp., a federal agency, against Executive Life Insurance Co. in California is threatening to derail the sale and …