STOLI

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Expect Focus - Spot The Regulator, Volume IV, Fall 2014

In This Issue: - IN THE SPOTLIGHT ..Crisis Management: Five Steps to Take Before Providing That Comment - LIFE INSURANCE ..Third Circuit Limits ERISA Fiduciary Liability to those with Ultimate...more

New York Law Governs STOLI Dispute In Texas

A Texas appellate court’s choice of law determination proved pivotal where a life insurer contested its duty to pay proceeds on the grounds that the policy was fraudulently acquired as part of a stranger-oriented life...more

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

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

How to Fight a STOLI Scheme: Court Rulings Offer Clues

Two recent court decisions provide potential road maps for insurers in the fight against Stranger-Originated Life Insurance (STOLI) schemes. Ohio Nat’l Life Assurance Corp. v. Davis involved a STOLI scheme so obvious that...more

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