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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): May 14, 2001
ACCEL INTERNATIONAL CORPORATION
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(Exact name of registrant as specified in its charter)
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)
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) ACCEL International Corporation ("ACCEL" or "the Company" or
"the Registrant") will be unable to timely file the Quarterly
Report on Form 10-Q for the quarter ending March 31, 2001. On
April 24, 2001, the Company filed SEC Form 8-K Current Report
describing its inability to timely file its Annual Report on
Form 10-K for the fiscal year ending December 31, 2000, by its
due date (extended) of April 16, 2001. At that time ACCEL
explained that the audit of the Company's financial statements
for the year then ended had not been completed, due to
difficulties verifying certain of the Company's new
subsidiary's books and records. Until the Registrant is able
to close the prior year's audited financials, the Company will
be unable to file financial reports for the year 2001.
(b) The Registrant is in the process of finalizing its subsidiary
books and records and the required disclosures to properly
record in SEC Form 10-K for the year ended December 31, 2000.
The Company hopes to have the books and records finalized and
its Form 10-K filed as soon as reasonably possible. As
previously reported in the Company's April 24, 2001 SEC Form
8-K Current Report, for the year ended December 31, 2000,
based on unaudited information, ACCEL expects to report a net
loss in excess of $12 million, and a total deficit in equity
of approximately $2.75 million. These amounts are subject to
audit and therefore may change by a material amount. Upon
completion of the records, books and financial statements, the
Company will forward the final information to its independent
accountants for the conclusion of the December 31, 2000 audit,
and the completion of the first quarter 2001 SEC Form 10-Q.
(c) Contact: Gerald H. Pastor, President and Chief Executive
Officer ACCEL International Corporation, (860) 843-7600
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0-8162
ACCEL INTERNATIONAL CORPORATION
FORM 8-K
CURRENT REPORT
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: May 14, 2001
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