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Case ID: 4887 | Insurance | 08/07/2006
A settlement in a longstanding lawsuit against Shelter Life Insurance Co. could mean refunds for thousands of policyholders. The proposed settlement stems from a class-action lawsuit filed last year in U.S. District Court in Kansas City. The lawsuit alleges that Shelter improperly raised premiums to increase profits by more than $10 million and concealed the rate hikes from policyholders.
According to documents filed in the case, more than 45,000 policyholders throughout 13 states are eligible for refunds that could exceed $5 million. Shelter disputes all of the allegations and the estimate of eligible policyholders, but has agreed to settle to avoid additional legal costs said the spokesman for Shelter. The lawsuit contends that premiums under the universal life insurance policies could change only if the underlying rating or "mortality" factors established at the inception of the policy had changed. Lawyers for Massey alleged those factors did not change, but higher premiums were charged. "Litigation involving policy wording is common for the insurance industry. What we’re trying to say we don’t end up saying, and that’s why we end up with litigation," said the spokesman for Shelter. As part of the agreement, Moseley said, Shelter published a notice of the proposed settlement in a June edition of USA Today. To be eligible to file a claim, policyholders must have owned a "flexible premium adjustable life" policy on Dec. 31, 1991, and after Jan. 1, 1992, with a face value amount of $25,000 to $249,000. Beneficiaries of payouts under the policies also are eligible to file a claim under the proposed settlement. 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 Kahn Gauthier Swick is investigating possible legal actions on behalf of uninsured or partially insured patients who have been overcharged by Tenet Healthcare Corporation, the second-largest healthcare provider in the U.S. 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. Two Florida attorneys filed a class-action lawsuit in the U.S. District Court for the Middle District of Florida, Orlando Division, on behalf Dorothy L. Eddy and other Florida senior citizens against AmerUs Life Insurance Co., a subsidiary of AmerUs Group Co. (NYSE:AMH). A class action lawsuit has been filed in the Southern District of New York against Lenox Hill Hospital. The case involves violations of the Employee Retirement Income Security Act (ERISA). No additional information about the substance of the allegations is available at this time. Classactionamerica.com will monitor this case and provide additional details as soon as they become available. The parties have reached a tentative multimillion dollar settlement in an action filed against United Parcel Service, Inc. on behalf persons who bought "excess value" package insurance from UPS going as far back as 1984. The action alleges that UPS overcharged for the insurance in violation of state and federal laws. Customers will be able to apply for UPS vouchers once the settlement is finalized. Our senior citizens are one of the greatest assets we have. A class action has been filed against long-term care insurers Penn Treaty American Corporation and Penn Treaty Network America Insurance Company on behalf of all persons that purchased “Personal Freedom” long-term care policies from Penn Treaty within the state of Florida between January 1, 1997, and the present. The action alleges that the companies breached their fiduciary duties and committed fraud in connection with the sale of the policies. |
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