New Release: Responsibilities of Insurance Agents and Brokers

In the July release of Matthew Bender’s Responsibilities of Insurance Agents and Brokers, the author, Bertram Harnett, added the case of Berry v. Indianapolis Life Ins. Co. , 600 F. Supp.2d 805 (N.D.Tex. 2009). Insurers face exposure from such conduct because they directly participated in it, or...

Lincoln National v. Snyder: Another STOLI Case, Another Carrier Victory

By Stephan Leimberg and Howard Zaritsky "Investors who are interested in STOLI arrangements should consider that the insurers are litigating all of these cases that they discover, and that they are investigating policy claims carefully to discover STOLI arrangements. Furthermore, the insurers...

Blogs From the Advisory Board: Insurer Potentially Liable To Investor in Ponzi Scheme Where Insurer Ignored Known Misrepresentations by Its Insured, Investment Company

By Daniel W. Gerber, Partner, Goldberg Segalla LLP Ivie v. Diversified Lending Group, Inc., Case No. 1:09-CV-751, 2011 U.S. Dist. LEXIS 27680 (W.D. Mich., Mar. 17, 2011) Plaintiff, Ivie, invested $2.2 million in a "guaranteed" 9% interest-earning note issued by DLG. DLG represented...

California Court Denies Rescission of Insurance Policy

Brian Margolies, Partner, Traub Lieberman Straus & Shrewsberry LLP In its recent decision in Thompson v. Navigators Ins. Co ., 2012 U.S. Dist. LEXIS 60122 (S.D. Cal. Apr. 30, 2012), the United States District Court for the Southern District of California considered whether an insurer was entitled...

Stranger Owned Life Insurance Risky Investment – Lies on Life Application Void Coverage

Insurance is a business of utmost good faith requiring both the insured and the insurer to treat each other fairly and in good faith and to do nothing to hurt the right of the other to the benefits of the contract. When a person lies on an application for insurance that person is not acting in good faith...

Is That Covered? Life Insurance For Sick Infant (Fair Warning - This Is an Emotional One)

By Michael R. Kelley Imagine you, as grandparents, had planned for months to purchase a life insurance policy on your soon-to-be-born-grandchild. You intended it as a gift to your daughter and her husband. But, your grandchild is born with a number of health problems and, in addition to your fears...