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Contested Proceedings Life Insurance

Carlton Fields

Third Circuit Application of Certified Questions Confirms STOLI Policies Void in New Jersey

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We previously reported on the New Jersey Supreme Court’s ruling on the validity of stranger-originated life insurance (STOLI) policies in the June 2019 issue of Expect Focus — Life, Annuity, and Retirement Solutions....more

Orrick, Herrington & Sutcliffe LLP

Utah Federal Court Holds That Incontestability Statute Bars Insurer From Avoiding Death Claim on STOLI Policy

On March 13, 2017, Judge David Nuffer of the United States District Court for the District of Utah granted defendant Wilmington Trust Company's motion to dismiss a lawsuit seeking to invalidate an alleged "STOLI"...more

Carlton Fields

Insurable Interest Found in Life Insurance Policies Procured by Investors Through Fraudulent STOLI Scheme

Carlton Fields on

The Florida Supreme Court recently held that life insurance policies procured by investors through a STOLI scheme did not violate Florida’s insurable interest statute and could not be challenged after the two-year...more

Orrick, Herrington & Sutcliffe LLP

Florida Supreme Court Holds that STOLI Challenges are Barred by Two-Year Contestability Clause

On September 22, 2016, the Florida Supreme Court issued an eagerly-awaited opinion in Wells Fargo Bank, N.A. v. Pruco Life Insurance Co. The Court held that Florida's two-year contestability statute applies to bar an...more

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