First Circuit Upholds Use of Retained Asset Accounts in ERISA Class Action

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Since this is a class action blog with a First Circuit focus, we would be remiss not to mention our recent victory in that court in an ERISA class action on behalf of our client, Unum Life Insurance Company of America.  A brief summary of the decision, which holds that ERISA does not prohibit the use of Retained Asset Accounts to pay death benefits under group life policies that expressly permit the use of such accounts, can be found here.

 

Topics:  Appeals, Class Action, Death Benefits, ERISA, Insurers, Life Insurance, Retained Asset Accounts

Published In: Civil Procedure Updates, Finance & Banking Updates, Insurance Updates, Labor & Employment Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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