The Insurance & Reinsurance Report
Your Timely Insurance and Reinsurance Analysis of Legal and Regulatory Developments and News.
Pruco Life Insurance Co. v. Brasner (U.S. Dist. S.D.FL November 14, 2011)
In Pruco, a 72 year old woman attended a seminar promising “free life insurance.” When she later inquired with the broker agency, she was signed up for a $10 million dollar policy which listed her as the owner and her husband as the beneficiary. However, the woman was never intended to pay any premiums on the policy and it was understood that the policy proceeds would be collected by a third party to …
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Continue ReadingCases provided courtesy of Lexis.
Bicknell v. Lockheed Martin Group Benefits Plan
Blue Shield of California Life & Health Insurance Company v. The Superior Court of Los Angeles
Crosby v. Louisiana Health Serv. & Indem. Co.
Dormer v. Northwestern Mut. Life Ins. Co.
Fier v. Unum Life Insurance Company
Hartford Life and Accident Insurance Company v. Cain
Lin v. Metropolitan Life Insurance Company
Protective Life Insurance Company v. Hansen
Sadel v. Berkshire Life Ins. Co.
Union Security Insurance Company v. …
Continue ReadingRichards v. Hewlett-Packard Corp. (U.S. Sup. Ct. December 6, 2010)
In 1991, Edward Richards filed for long-term disability benefits after being diagnosed with chronic fatigue immune dysfunction and fibromyalgia. Mr. Richards had worked for Digital Equipment Corp., now Hewlett-Packard Co., as a software engineer since 1984. Prudential Insurance Co. of America granted his claim and in 1992, Mr. Richards was granted Social Security disability benefits.
The company’s plan permitted Prudential Insurance to confirm Mr. Richards’ condition from time to time. In 2001, several physicians commissioned …
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Continue ReadingBlumenthal v. New York Life Insurance and Annuity Corporation
Bonner v. Metropolitan Life Ins. Co.
Conseco Life Insurance Company v. Williams
First National Bank & Trust Company v. Stonebridge Life Insurance Company
Flores v. Monumental Life Ins. Co.
Gunn v. Reliance Standard Life Ins. Co.
Howley v. Mellon Financial Corporation
Jackson v. Fort Dearborn Life Insurance Company
Klay v. AXA Equitable Life Insurance Company
Kramer v. Phoenix Life Insurance Co.
Continue ReadingAMERICAN GENERAL LIFE INSURANCE v. HELEN GOLDSTEIN (District Court, Delaware September 30, 2010)
The insured was approached by a "friend" regarding a "fabulous deal": in exchange for six-figures, the insured would simply have to submit to a medical examination and apply for a life insurance policy. The insured set up a trust, naming her husband as beneficiary. She applied for a life insurance policy, listing her unearned income as $200,000 per annum, and her net worth as between $5-6 million. In fact, her net worth was significantly less and …
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Continue ReadingCases provided courtesy of Lexis.
Continue ReadingMetropolitan Life Insurance Company (“MetLife”) agrees to pay $13.5 million to the federal government to avoid prosecution of allegations that it violated the Employee Retirement Income Security Act, according to a Department of Justice Press Release by the San Diego Division of the Federal Bureau of Investigation. As alleged, MetLife made improper payments to a San Diego based insurance broker, by knowingly failing to disclose and report certain information, including commissions and fees paid, required under ERISA. The U.S. Attorney for the Southern District of …
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