RICO, Class Action, Annuities

Summary Judgment for Insurer in Annuity Sales Practices Action

Carlton Fields on 7/27/2017

On March 31, in Chambers v. N. American Co. for Life & Health Ins., an action alleging RICO violations and other claims in the sales of deferred annuities to seniors, the Southern District of Iowa granted the insurer’s motion...more

What’s Your Game Plan? Offensive or Defensive: Playing to Your Strengths [Expect Focus – October 2016]

Carlton Fields on 10/31/2016

- AXA Prevails at First Post-Jones v. Harris Excessive Fee Trial - Potential Secondary Effects of Regulatory Examinations: Evidentiary Issues and Preclusion in Parallel Litigation - On The Horizon: Global...more

Recent Insurer Victories in Indexed Annuity Class Actions

Carlton Fields on 10/26/2016

Recent federal court decisions effectively terminated two class action lawsuits challenging indexed annuity sales, seemingly ending an extended wave of class litigation in the federal courts against multiple insurers...more

Life and Annuity Series: Captive Reinsurance Class Actions

WilmerHale on 1/25/2016

There have been several new class actions filed recently challenging “shadow insurance” transactions between life insurance companies and their “captive reinsurers.” Three of those class actions are in federal court in New...more

Life and Annuity Series: Annuity Cases—Good 9th Circuit Decision

WilmerHale on 8/24/2015

The August 2015 decision from the 9th Circuit, titled Eller v. Equitrust Life Ins. Co, provides helpful precedent for the defense of annuity sales practice cases. Plaintiff Eller brought a RICO class action alleging,...more

Ninth Circuit Rejects Challenge to Bonus Annuity

Eversheds Sutherland (US) LLP on 2/27/2015

The U.S. Court of Appeals for the Ninth Circuit has affirmed summary judgment for the insurer in a putative RICO class action relating to a bonus indexed annuity. Rejecting the plaintiff’s claims, the court held that the...more