After years of pursuing life insurers with Cost of Insurance (COI) class actions, we are now seeing a new life insurance secondary market investor strategy — suing life insurers on a class action basis for not paying enough...more
Earlier this year, we reported on the New Jersey Assembly’s unanimous (78-0) vote approving Assembly Bill 1263, supplementing New Jersey’s Viatical Settlements Act, N.J.S.A. 17B-30B-1, et seq., and outlawing...more
The United States District Court for the Southern District of New York recently issued a decision denying class certification to sub-classes in a cost of insurance (“COI”) class action based upon the insurer’s defense that...more
As many of you may know, Cozen O’Connor was victorious last year in obtaining a ruling by the New Jersey Supreme Court in Sun Life Assurance Company v. Wells Fargo Bank, N.A., 238 N.J. 157 (2019) (Bergman) that...more
3/3/2020
/ Beneficiaries ,
Consumer Insurance Products ,
Insurable Interests ,
Insurance Litigation ,
Life Insurance ,
New Legislation ,
Public Policy ,
State and Local Government ,
Statutory Requirements ,
STOLI ,
Sun Life Assurance Company of Canada ,
Wells Fargo
The New Jersey Supreme Court recently condemned stranger-originated life insurance (“STOLI”) transactions as void ab initio human life wagers in a case that the life insurance and life settlement industries watched closely....more