February 2011, Volume 5, Issue 3

Exploring the life settlement option for clients

Feature: U.S. Judge May Toss N.Y. Settlement Case

By Trevor Thomas - U.S. District Judge Deborah Batts could throw out a New York case in which an insurer has challenged the sale of a policy to a party with no insurable interest in the life of the policyholder.

Batts, who serves on the U.S. District Court in New York, is hearing In re Arthur Kramer Insurance Trust Litigation (1:08-cv-02429-DAB), a case related to the Kramer vs. Phoenix New York state court insurable interest case.

The 2nd U.S. Circuit Court of Appeals had asked the New York Court of Appeals to determine if the state's insurable interest law forbids an insured from buying a policy on his own life with the intent…

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Settlement and related news from National Underwriter

Appeals Court Backs Northwestern
Life Settlement Firm Confirms Investigation

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Quiz question

Provident Capital Indemnity, a Costa Rica firm selling life settlement bonds, is being investigated by the Securities and Exchange Commission. What are the allegations?
a) Inaccurate life expectancy estimates
b) Misrepresenting its ability to satisfy its obligations
c) Selling securities without a license
d) Failing to put investment funds in escrow

 find the answer

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