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KENTUCKY CENTRAL LIFE INSURANCE ANNOUNCES SETTLEMENT OF LAWSUIT AGAINST ALABAMA SUBSIDIARY

 KENTUCKY CENTRAL LIFE INSURANCE ANNOUNCES SETTLEMENT OF
 LAWSUIT AGAINST ALABAMA SUBSIDIARY
 LEXINGTON, Ky., June 18 /PRNewswire/ -- A claim that could have cost a Kentucky Central Life Insurance Company (NASDAQ-NMS: KENCA) subsidiary approximately $27 million has been settled for $10,000.
 Settlement of the claim was announced today by W.E. Burnett, Jr., chairman of the board and president of Kentucky Central.
 The Alabama Department of Insurance had charged American Resources Insurance Company with accepting insurance premiums from improperly licensed agents. The maximum penalty would have been a fine of triple the estimated $9 million in premium American Resources received.
 Based in Mobile, Ala., American Resources primarily provides insurance for workers compensation, general liability and reclamation bonds. It operates in seven states.
 -0- 6/18/92
 /CONTACT: Brent A. Clay, Vice President, Kentucky Central Life Insurance Company, 606-253-5271/
 (KENCA) CO: Kentucky Central Life Insurance Company; Alabama Department of
 Insurance; American Resources Insurance Company ST: Kentucky, Alabama IN: INS SU:


CM -- CH005 -- 1506 06/18/92 12:21 EDT
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Publication:PR Newswire
Date:Jun 18, 1992
Words:167
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