The Fed is expected to hold rates steady as its June Open Market Committee meeting wraps today. Analysts expect that the better-than-expected May jobs numbers won’t be nearly enough for the central bank to suggest it is close...more
Capitol Life Insurance Co. moved the Court of Appeals for the Fifth District of Texas for rehearing of the court’s prior affirmance of summary judgment against Capitol in favor of MetLife Insurance Company USA, MetLife...more
In anticipation of his mother’s death, a son called Metropolitan Life Insurance Company (MetLife) to request a copy of his mother’s life insurance policy, which he knew existed, but had never seen. A MetLife representative...more
In City of Westland Police & Fire Retirement System v. MetLife, the plaintiffs allege that the insurer overstated its earnings because it did not hold sufficient reserves for death benefit claims on group life insurance...more
In July, MetLife obtained a win in the Northern District of Illinois when the court granted summary judgment in its favor on a claim that it had breached the duty of good faith and fair dealing in setting interest rates for a...more
The designation of MetLife as a systemically significant nonbank financial institution (SIFI) by the Financial Stability Oversight Council (FSOC) was recently rescinded by the United States District Court for the District of...more
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
Likely prompted by its ongoing SIFI battle, MetLife is reportedly looking to spin off its retail life and annuity business and break up what’s now the largest life insurance company in the US, with $880 billion in assets –...more
Recently, there has been a noticeable increase in lawsuits, particularly putative class actions, brought against life insurance companies pursuant to the Telephone Consumer Protection Act of 1991 (TCPA). As amended by the...more
Recently, the United States Court of Appeals for the Eighth Circuit released an opinion which highlights the importance of ensuring ERISA plan documents grant plan administrators the discretion to construe and interpret the...more
On March 8, 2013, the U.S. District Court for the District of Nevada, Judge Larry R. Hicks presiding, granted the defendant - insurer’s motions for summary judgment in the consolidated, putative class actions, Keife v....more