Gulf Underwriters Insurance Company (UK) Ltd.

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    Andersen chaos causes delay in $10 million payments

    The Arthur Andersen group is in such structural chaos that a Bermuda-based mutual insurer for accounting firms has more than $10 million to pay out but does not know where to send it.Professional Asset Indemnity Ltd., of Bermuda, and its wholly-owned subsidiary, PAIL Vermont Insurance Company, of Vermont, is so confused that it has taken the matter to court.