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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date earliest event reported): November 20, 2000
ACCEL INTERNATIONAL CORPORATION
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(Exact name of registrant as specified in its charter)
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Delaware 0-8162 31-0788334
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(State of Incorporation) (Commission File Number) (IRS Employer Identification No.)
75 West Street, Simsbury, Connecticut 06070
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(Address of principle executive office) (Zip Code)
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Registrant's telephone number, including area code: (860)-843-7600)
(Former Name or Former Address, if Changed Since Last Report): Not applicable.
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0-8162
ACCEL INTERNATIONAL CORPORATION
FORM 8-K
CURRENT REPORT
ITEM 5. OTHER EVENTS.
(a) The registrant has signed "Waiver of Certain Procedural Rights as to
Motion for Order of Rehabilitation".
On November 20, 2000, ACCEL International Corporation ("ACCEL") filed
Form 8-K Current Report related to the signing of a "Waiver of Certain
Procedural Rights as to Motion for Order of Rehabilitation" ("the
Waiver") by Gerald H. Pastor on behalf of ACCEL's wholly owned
subsidiary, Acceleration National Insurance Company ("ANIC"), in Mr.
Pastor's position as President and CEO of the subsidiary. Such action
was taken after the Board of Directors of ANIC passed a resolution
authorizing Mr. Pastor to execute such document.
The Waiver acknowledges that ANIC was fully informed of its rights
pursuant to Ohio Revised Code Section 3903.12, and therefore, ANIC by
signing the Waiver, consented to be placed into rehabilitation by the
Ohio Department of Insurance ("the Department"). Ohio is the
regulating, domiciliary state for ANIC. ANIC has been under an Order of
Supervision since May 4, 2000, such order having been issued due to the
Superintendent of the Department's reasonable belief that ANIC was in
such financial condition as to render the continuance of its business
hazardous to its policyholders, certificate holders or to the public.
By signing the Waiver, ANIC waives any right to defend against a
rehabilitation order, and that ANIC agrees to take all actions, produce
all books, records and other documents, and to fully cooperate in any
manner with the Department regarding rehabilitation.
(b) Contact: Gerald H. Pastor, President and Chief Executive Officer ACCEL
International Corporation, (860) 843-7600
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
ACCEL INTERNATIONAL CORPORATION Date: November 20, 2000
By: /s/ Gerald H. Pastor By: /s/ Richard A. Lawrence
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Gerald H. Pastor Richard A. Lawrence
President & Chief Executive Officer Senior Vice President,
CFO & Treasurer
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