News & Analysis as of

Life Insurance Premiums

Cozen O'Connor

Claims Notes: September 2024

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Litigation arose over whether a suit for misrepresentation and breach of contract arising out of an easement triggered a Commercial General Liability (CGL) insurer's duty to defend. Internal confidential communications...more

Stinson - Benefits Notes Blog

DOL Settlements Remind Employers to Avoid Collecting Premiums Until Evidence of Insurability is Approved

The U.S. Department of Labor (DOL) announced two settlements with major insurance companies this month that highlight the importance of employers avoiding the collection of group life insurance premiums from employees until...more

Houston Harbaugh, P.C.

Here Comes Treble: Pennsylvania Supreme Court holds treble damages under the UTPCPL cannot be limited by punitive damages

Houston Harbaugh, P.C. on

On April 25, 2024, the Supreme Court of Pennsylvania held that trial courts considering violations of Pennsylvania’s Unfair Trade Practices and Consumer Protection Law (“UTPCPL”) may not limit damages because of separate...more

Rivkin Radler LLP

New York Insurance Coverage Law Update - November 2023

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New York’s Highest Court Holds That Portion Of Premium Need Not Be Refunded For Death During Policy Period Of Universal Life Policy- The Joan C. Lupe Family Trust purchased a policy under which Lincoln Life and Annuity...more

Rivkin Radler LLP

New York Insurance Coverage Law Update - September 27, 2023

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Eastern District Finds That Insurer’s Delay In Disclaiming After Insured Gave Notice Of Occurrence Precluded Insurer’s Reliance Upon Exclusions Two employees of Extreme Residential Corp. were involved in a construction...more

Husch Blackwell LLP

Administering Irrevocable Trusts – A Checklist for Trustees

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A friend, family member, or client has just created an irrevocable trust naming you as the trustee, and you may be asking yourself, “What do I do now?” Serving as a trustee comes with a lot of responsibility. Here are a few...more

Littler

First Circuit Creates New Fiduciary Duty Under ERISA for Insurers Accepting Group Premiums from Employers

Littler on

In a case of first impression for the court, the U.S. Court of Appeals for the First Circuit recently ruled that an insurer owes a fiduciary duty under the Employee Retirement Income Security Act of 1974 (ERISA) to all...more

Jackson Lewis P.C.

Eleventh Circuit Highlights Importance of Unambiguous Disclaimers in SPDs

Jackson Lewis P.C. on

The Eleventh Circuit recently affirmed an Alabama district court’s decision granting summary judgment in favor of Allstate Insurance Company in a consolidated ERISA class action challenging Allstate’s decision to stop paying...more

Chambliss, Bahner & Stophel, P.C.

How an Irrevocable Life Insurance Trust Can Be Used to Avoid or Reduce the Estate Tax

With the federal estate tax exemption possibly about to be lowered, it may be time to think about steps you can take to keep your estate from being taxed. An irrevocable life insurance trust allows you to pass on money to...more

Orrick, Herrington & Sutcliffe LLP

Northern District of Illinois Voids Policy Issued Pursuant to Nonrecourse Premium Financing Program but Allows for Return of...

On March 30, 2020, in a case captioned Sun Life Assurance Company of Canada v. Wells Fargo Bank, N.A., Judge Philip Reinhard of the United States District Court for the Northern District of Illinois issued a decision...more

Carlton Fields

The Risk and Reward of Life Insurance

Carlton Fields on

No Recovery for Paying Premiums in Excess of Policy Face Amount - Since we last reported on Goostree v. Liberty National Life Insurance Co. in the October 2019 issue of Expect Focus — Life, Annuity, and Retirement Solutions,...more

Carlton Fields

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

Carlton Fields on

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

Life Insurer’s Early Dispositive Motion Achieves Narrowed Fraud Claim in COI Suit

Carlton Fields on

A recent decision by a federal district court in Maryland further illustrates the elusive nature of early dismissal of claims in far-reaching suits challenging the cost of insurance rate increases – even when some success is...more

Carlton Fields

Eleventh Circuit Reverses Dismissal of Insurer’s Fraud and Racketeering Claims Against Premium Financer

Carlton Fields on

The Eleventh Circuit recently addressed the legal viability of federal racketeering, fraud, and declaratory relief claims by Sun Life against a premium finance company arising out of an alleged STOLI scheme, as well as the...more

Bennett Jones LLP

Ontario Court of Appeal Certifies Class Action Against Sun Life

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On September 5, 2018, the Ontario Court of Appeal released its decision in Fehr v. Sun Life Assurance Company of Canada, overturning certain parts of the motion judge’s decision and certifying a class action against Sun Life...more

Carlton Fields

Sticking Firmly to Contract Terms, Court Dismisses Premium and COI Overcharge Claims

Carlton Fields on

In July, in Hancock v. Americo Financial Life & Annuity Co., Americo achieved a total victory on its motion to dismiss a putative class action in the Eastern District of North Carolina that challenged its premium and COI...more

Winstead PC

Court Held That Settlor Had Standing To Assert Extra-Contractual Misrepresentation Claims Regarding Insurance Policies He...

Winstead PC on

In Lee v. Rogers Agency, Lee purchased three whole-life insurance policies in the 1980s where each had a face value of $1,000,000. No. 06-15-00037, 2017 Tex. App. LEXIS 1069 (Tex. App.—Texarkana February 8, 2017, pet. filed)....more

Gerald Nowotny - Law Office of Gerald R....

Put Me in Coach! Using Split Dollar Life Insurance Plans to Compensate Division I Coaches

In August 2016, the national sports media provided details regarding the compensation package for Coach Jim Harbaugh at the University of Michigan. It comes as no surprise to anyone that Division I football and basketball...more

BCLP

Just How Is Basis Acquired After All?

BCLP on

Dorrance v. U.S., 2015 WL 8241954 (9th Cir. 2015) - This case is the latest in the cases involving tax impact of the sale of stock received by a policy holder from a mutual life insurance company on demutualization, and...more

Butler Snow LLP

Vanishing premiums part deux?

Butler Snow LLP on

Those of you with gray hair like me may recall the life insurance vanishing premium lawsuits from the mid-1990s. As a refresher, that flood of lawsuits arose from life insurance policies sold in the 80s (mainly whole or...more

Eversheds Sutherland (US) LLP

New York State Division of Tax Appeals Addresses Unauthorized Insurance Company Taxation

A New York State Division of Tax Appeals administrative law judge (ALJ) issued three determinations addressing the tax implications for unauthorized insurance companies, both life and non-life. Significant uncertainty has...more

Eversheds Sutherland (US) LLP

FY2017 Budget Proposal Sets Its Sights on Insurance Companies

On February 9, the Obama Administration released its fiscal year 2017 budget proposal (FY2017 Budget). Many of the tax proposals included in the FY2017 Budget closely follow those included in the President’s fiscal year 2016...more

Carlton Fields

Under a Spotlight, "Shadow Insurance" Lawsuit Fails Scrutiny

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One of several class actions that arose in the wake of a 2013 investigation by the New York Department of Financial Services (NYDFS) into so-called “shadow insurance,” Robainas v. Metropolitan Life Insurance Co., has been...more

Eversheds Sutherland (US) LLP

Legal Alert: Cost of Insurance Litigation – Insurers Retain Discretion to Set COI Rates in Two Key Victories

In the first federal appellate decisions addressing cost of insurance (COI) charges in life insurance policies, the Seventh Circuit Court of Appeals handed two victories to insurers in opinions issued December 13, 2013. In...more

Manatt, Phelps & Phillips, LLP

Ninth Circuit Upholds Rescission of Life Insurance Policy and Rejects Novel Theories

This week the Ninth Circuit affirmed a grant of summary judgment in favor of USAA Life Insurance Company, holding that the insurer was entitled to rescind the policy under California law when it discovered that its insured...more

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