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Case ID: 2882 | Insurance | 01/05/2005
The parties have reached a settlement in an action filed against the Reliastar Life Insurance Company on behalf of all persons who have or had an ownership interest in a "Competitor" or "DVP" interest-sensitive whole life policy issued by the company or its subsidiaries between January 1, 1982, and December 31, 1996. Claims Review Process Forms must be postmarked no later than November 19, 2003, to be considered valid.
The settlement will provide two types of relief: general policy relief and the claim review process. These options are mutually exclusive, so that class members may only take part in one or the other. To take part in general policy relief, class members need do nothing at the present time. To take part in the claim review process, claim forms must be submitted by the date already mentioned. The policies that are the subject of this action were sold by Northwestern National Life Insurance Company, Reliastar United Services Life Insurance Company, United Services Life Insurance Company, United Services General Life Company, General Services Life Insurance Company, Provident Life Insurance Company, and United Olympic Life Insurance Company. The settlement excludes policies that terminated due to the death of the insured person and were subsequently paid off, and policies that were refunded in full due to rescission or failure to take the policy. Persons who have questions about participation in the settlement should contact the class attorneys at 888-878-1987. The settlement will not be effective until the court grants it final approval. The court has scheduled a hearing on the matter for December 19, 2003. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Insurance Cases of Interest The parties have reached a tentative $16+ million settlement in a class action filed against New York Life insurance Company on behalf of current and former agents who contracted with New York Life before January 1, 1991. The action alleges that New York Life violated the Employment Retirement Income Security Act of 1974 by paying its “Non-Qualified Benefit” only a select group of established agents known as "Senior Nylics." Persons eligible to take part in the settlement should contact attorneys for the class as soon as possible. When you make an insurance claim, you can bet the company would really rather not pay it. The parties have reached a tentative $1,785,000 settlement in an action filed against American Express Property Casualty Companies, American Express Assurance Company, and IDS Property Casualty Insurance Company on behalf of all persons who, during the period from November 6, 1992, to September 25, 2003, were injured in automobile accidents while a driver or passenger in an automobile insured under one of the companies’ auto insurance policies, and whose medical bills were not paid in full up to the policies’ limits. The settlement includes any medical providers who received an assignment of rights to the insured persons’ rights regarding claims for payment of medical expenses. Claim forms must be postmarked by March 2, 2004, to be considered valid. Many individuals have additional coverage with their car insurance called a rental car rider policy. This policy insures that if you are in an accident and your car is in the shop being repaired, the insurance company will pay for your rental car. It has recently come to the attention of Kahn Gauthier Swick that individuals who purchased State Farm Auto Insurance with the Rental Car Rider may not have received all of the benefits under the policy. Loan contracts can be extraordinarily complex--you need to read them very carefully before signing on the dotted line. A class action has been filed against World Savings and Loan Association on behalf of California borrowers under secured loans made or serviced by World alleging that the company used unnecessarily expensive hazard insurance policies to illicitly make additional profits, breaching their contracts and violating the California Business and Professions Code. The parties have reached a settlement apparently valued at $5,850,000 in an action filed against the Insurance of America Agency, Inc., the National Business Association, Inc., the American National Insurance Company, Inc., and the American National Life Insurance Company of Texas on behalf of all persons (1) who obtained certificates of insurance from American National Life Insurance Company of Texas, Inc., or American National Insurance Company, that were the subject of a trust agreement in which those companies were the administrators for the National Business Association insurance program after October 12, 1996, or (2) who were over eighteen as of July 1, 2003, and were insured under certificates containing a co-pay and wellness benefit rider offered by American National Life Insurance Company of Texas when notices issued in their state of residence that the rider was to be deleted. Persons who have not received notification, but are eligible to take part in the action should contact class counsel as soon as possible. A nationwide class action has been filed against State Farm Fire & Casualty Company on behalf of policyholders who allege that, because they already had a history of claims against the company, it fraudulently under-compensated them on more recent claims in breach of their insurance contracts. |
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