News & Analysis as of

Class Action Putative Class Actions Life Insurance

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Carlton Fields

Litigation Under Construction: Recent Life Insurance and Long-Term Care Developments

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In Potovsky v. Lincoln Benefit Life Co., the Ninth Circuit Court of Appeals affirmed the dismissal of the insureds’ complaint for failure to sufficiently allege damages regarding the denial of a long-term care claim....more

Carlton Fields

Life Industry Class Action Trends in the First Half of 2020

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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

Carlton Fields

Eleventh Circuit Takes Life Insurance Reinstatement Claims at Face Value for CAFA Amount-In-Controversy Purposes

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The Eleventh Circuit recently examined the application of the $5 million amount-in-controversy requirement under the Class Action Fairness Act (CAFA) to disputes over life insurance premiums and policies. It concluded that...more

Carlton Fields

Putative Class Representative Accusing Life Insurer Of “Hollow Asset” Reinsurance Lacks Article Iii Standing

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We previously reported on putative class actions pending against life insurers for allegedly misleading customers by engaging in “shadow” or “hollow” reinsurance transactions, doing so most recently on August 3, 2015. In...more

Carlton Fields

Phantom Injury Dooms “Shadow Insurance” Case

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A recent federal district court decision dismissing a putative class action complaint against AXA Equitable Life Insurance Company may portend trouble for plaintiffs pursuing a number of similar so-called "shadow insurance"...more

Carlton Fields

Statutory Accounting Fraud Under RICO

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Echoing New York’s regulatory criticism concerning the use of captive reinsurers and similar allegations in recent class actions filed against several New York life insurers, an annuity contract owner has filed a putative...more

Pullman & Comley, LLC

The Insurance Examination Privilege Just Became Important

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When a U.S. insurance regulator investigates market conduct or financial solvency, its work is governed by a state law based on the NAIC Model Law on Examinations. Like the Model Law, all state laws strictly protect the...more

Carlton Fields

A Tale of Two Annuities: Exchange of Variable for Fixed Annuity Integral in SLUSA Dismissal

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After attending an annuity seminar, Robert and Diane Ruud exchanged their variable annuity for a fixed annuity sold by PHL Variable. According to the Ruuds, seminar provider John Friendshuh represented the fixed annuity as...more

Carlton Fields

Expect Focus - Regulators Are Watching: New Products, New Opportunities, New Risks - Volume III, Summer 2014

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In This Issue: - IN THE SPOTLIGHT ..Standard CGL Policy Form Adds Data Breach Coverage Exclusion - LIFE INSURANCE ..Class Claims Against Lincoln National Barred in Section 419 Action – Again ...more

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