After years of pursuing life insurers with Cost of Insurance (COI) class actions, we are now seeing a new life insurance secondary market investor strategy — suing life insurers on a class action basis for not paying enough...more
The United States District Court for the Southern District of New York recently issued a decision denying class certification to sub-classes in a cost of insurance (“COI”) class action based upon the insurer’s defense that...more
The first half of 2020 saw an uptick in the filing of class action lawsuits against life insurance companies. Life insurance companies have continued to be the target of putative class actions in California challenging...more
New York Pushes Mutual Fund Active Share Disclosure - New York’s Attorney General issued a report on its recent investigation of fees charged by actively managed equity mutual funds and a metric known as “Active Share.”...more
EXPECTFOCUS® is a quarterly review of developments in the insurance and financial services industry, provided on a complimentary basis to clients and friends of Carlton Fields Jorden Burt, P.A. ...more
Suits challenging insurers’ cost of insurance (COI) rate increases continue to generate much activity. In recent months, this activity has included transfers, consolidations, several actions that are inching closer to...more
Plaintiffs' lawyers have been challenging cost-of-insurance (COI) charges for years, with mixed results. The following outline reviews the most recent flurry of cases. ...more
WilmerHale Partner Charles Platt, a leading commercial litigator who is recognized nationally for his work defending financial services and insurance companies, periodically drafts legal news alerts for clients about the life...more
The complaint against Banner Life combines the "captive reinsurance" class action claims brought last year with the cost-of-insurance (COI) class action claims that are now popping up. Instead of standing on their own,...more
Plaintiffs lawyers have been challenging cost of insurance (COI) charges for years, with mixed success. The recent decision by the Indiana Court of Appeals, titled Lincoln National Ins. Co. v. Bezich, is the latest in this...more
In a class action challenging a cost of insurance (COI) rate increase, a New York federal district court has stated that an insurer may only consider factors specifically enumerated in the policy when raising COI rates on a...more
In the first federal appellate decisions addressing cost of insurance (COI) charges in life insurance policies, the Seventh Circuit Court of Appeals handed two victories to insurers in opinions issued December 13, 2013. In...more