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
4/6/2016
/ AXA Equitable Life ,
Captive Insurance Company ,
Class Action ,
COI Rates ,
Contract Terms ,
Disparate Impact ,
Elder Abuse ,
Excessive Fees ,
Insurance Industry ,
Life Insurance ,
Reinsurance
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
1/25/2016
/ Annuities ,
AXA Equitable Life ,
Captive Insurance Company ,
Class Action ,
Insurance Industry ,
Life Insurance ,
MetLife ,
Misrepresentation ,
NAIC ,
Reinsurance ,
RICO
Below is an update on the "excessive fee" cases under section 36(b) of the Investment Company Act of 1940.
Most of these complaints are now proceeding on the "sub-adviser" theory: that annuity contract-holders pay...more
9/8/2015
/ Affiliates ,
Annuities ,
AXA Equitable Life ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Excessive Fees ,
Hartford Life and Accident Insurance Company ,
Insurance Industry ,
Investment Adviser ,
Investment Company Act of 1940 ,
Retirement Plan ,
State Farm