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Tough Sell for Bechtel: American General Files Suit in Florida

On January 29, 2015, American General Life Insurance Company filed a complaint against Kevin H. Bechtel and Life Brokerage Partners, LLC, in the United States District Court for the Middle District of Florida, Tampa Division....more

2/26/2015 - Broker Commissions Insurance Brokers Insurance Litigation Life Insurance Sales Commissions

Lawsuit Alleges Unlawful Insurance Scheme Involving Commission Pooling for the Purpose of Procuring IUL Policies That...

On February 13, 2015, Transamerica Life Insurance Company filed a lawsuit in the Central District of California concerning an allegedly unlawful insurance scheme in connection with the sale of indexed universal life insurance...more

2/19/2015 - Broker Commissions Insurance Industry Insurance Litigation Insurance Scheme Life Insurance

Indemnification and Reimbursement Sought from Insurers Based on Allegedly Fraudulent Funding Program: Fifth Third Bancorp v. Ace...

Who: Plaintiffs: Fifth Third Bancorp and Fifth Third Bank Defendants: Ace Insurance Company, Axis Insurance Company, Certain Underwriters at Lloyd’s, Continental Insurance Company, Federal Insurance Company,...more

11/21/2014 - Bonds Fifth Third Bancorp Financial Institutions Indemnification Insurers Reimbursements

Complaint Filed for Alleged Insurance Fraud Scheme on Secondary Market

On October 3, 2014, a lawsuit captioned Visión en Análisis y Estrategia, S.A. de C.V., et al. v. Karl Andersen, et al., was filed in the Southern District of New York alleging an insurance fraud scheme perpetrated against the...more

10/13/2014 - Insurance Fraud Investment Funds Life Insurance Private Investment Funds

More Arrests for Alleged Insurance Fraud

Just weeks before the sentencing of three insurance producers for insurance fraud and STOLI-related conduct in the Southern District of New York (covered here), two insurance producers and several insureds were arrested in...more

8/5/2014 - Criminal Prosecution Insurance Fraud STOLI

Convictions of Life Insurance Producers for Mail and Wire Fraud Result in Lengthy Sentences and Millions in Restitution

Earlier this week, the United States District Court for the Southern District of New York sentenced Michael Binday, James Kergil, and Mark Resnick, and ordered the payment of millions of dollars in restitution. The sentencing...more

8/4/2014 - Fraud Life Insurance Mail Fraud STOLI Wire Fraud

High Tide for Lapse Cases? New York Federal Court Holds That Investor Lawsuit Is Not Barred by Statute of Limitations

On March 28, 2014, a New York federal court issued an opinion that may have a significant impact on the already increasing number of lapse-related lawsuits in the life insurance industry. In Lebovits v. PHL Variable Insurance...more

4/17/2014 - Denial of Benefits Life Insurance Statute of Limitations

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