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Case ID: 2957 | Insurance | 12/01/2003
The class has been certified in a nationwide action filed against Liberty Life Insurance Company on behalf of all African-Americans who are current or former owners of industrial life insurance policies issued by Liberty Life or any insurance companies acquired by Liberty Life, and who were charged race-based premiums that were greater than premiums charged to similarly situated Caucasians. The action alleges that the company committed fraud and violated state unfair practices laws when it used blatantly discriminatory sales tactics to target unsophisticated consumers as potential buyers of industrial insurance, also known as burial insurance. The action seeks unspecified compensatory and punitive damages.
The action alleges that Liberty Life maintained a fraudulent scheme to sell African-Americans burial insurance for more than 50 years. The burial insurance in question is a life insurance product that typically has a face value of $1,000 or less, and premium payments that are allegedly designed to appear to be modest payments. The action alleges that the company and its subsidiaries specifically targeted low-income, unsophisticated, and minority segments of the population for sale of these policies. Industrial life insurance policies are also known as industrial accidental death policies, burial life insurance policies, or merely burial insurance. Liberty Life allegedly designed the policies with small face values and charged weekly or monthly premiums often under $1. Company agents made home visits to collect the premiums. The action alleges that Liberty Life designed the policies to have face values in amounts that would far exceed any amount that the policyholder would be able to save. It also allegedly knew that the targeted policyholders were not equipped to realize that over the normal life expectancy of these policyholders, the small premiums would often far exceed the face value of the policies. Agents were allegedly trained to sell multiple policies to policyholders where possible, even though doing so did not profit the policyholder in any way. The action alleges that the policyholders who invested in industrial policies would have been much better served had they invested in traditional life insurance. They were allegedly not given that option because traditional life insurance was not as profitable for the company. 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 A class action has been filed on behalf of retirees who retired from the Case Corporation (now known as CNH Global NV) on or after July 1, 1983 and were under 62 years of age at the time of retirement. The suite alleges that Case denied such retirees supplemental benefits due to them under negotiated collective bargaining agreements and in violation of federal law. Kahn Gauthier Swick is investigating claims against UnumProvident Corporation, the largest disability insurance company in the U.S., for wrongfully denying claims, or for ending benefits on claims they had originally approved. A class action has been filed against AmerUs Group Company and affiliated companies and individuals, on behalf of Pennsylvanians 65 years of age and over, who purchased living trusts or living trust kits and/or deferred variable/fixed annuities that were worthless to them from the companies, in violation of Pennsylvanians unfair trade practices laws. The class has been certified in an action filed against State Farm Automobile Insurance Company on behalf of Nebraskans who were hurt in auto accidents, and who allege that the company overcharged them for managed care medical coverage under the guise of traditional indemnity medical coverage. The action alleges that State Farm overcharged consumers 15% to 20% for their coverage, in violation of Nebraska's Consumer Protection Act and the Deceptive Trade Practices Act. A Biloxi attorney and homeowners along the Gulf Coast area have filed a class action law suit against State Farm Insurance Company, alleging the company has refused to pay for hurricane damage to their homes, even though the plaintiffs purchased "all perils" homeowner insurance.
Three class actions pending against Lawyers Title Insurance Corporation, American Pioneer Title Insurance Corporation (now known as Ticor Title Insurance Company of Florida) and Fidelity National Title Insurance Corporation have settled. These companies have joined Florida's largest title insurer, Attorneys & Title Insurance Fund, Inc., (known as "The Fund") in settling actions alleging that the insurers overcharged persons that pay the premiums for title insurance in Florida. |
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