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Overseas Partners close to settling class action lawsuits

Bermuda-based Overseas Partners Ltd. says it has reached a “tentative settlement” in two class action lawsuits filed on behalf of customers of its affiliate, United Parcel Service.
The lawsuits were filed in the United States in 1999 and 2000 by parties who alleged racketeering, claiming they had been sold sham insurance in a UPS shipper’s risk program that was reinsured by OPL.