Monday, February 26, 2007
Class Action Litigation Looms As New Hurdle for EIA Insurers
Add class action litigation to the regulatory controversies, bad press and other woes plaguing insurers that sell equity index annuities.
A magistrate for the U.S. District Court for the District of Hawaii in Honolulu this month recommended certification of a class action against Sioux Falls, S.D.-based Midland National Life Insurance Co. The class members — estimated at 600 to 700 — all were Hawaii residents 65 and older when they purchased Midland EIAs between May 2001 and May 2005.
Class Action Litigation Looms As New Hurdle for EIA Insurers
Source: Investment News (subscription required)
A magistrate for the U.S. District Court for the District of Hawaii in Honolulu this month recommended certification of a class action against Sioux Falls, S.D.-based Midland National Life Insurance Co. The class members — estimated at 600 to 700 — all were Hawaii residents 65 and older when they purchased Midland EIAs between May 2001 and May 2005.
Class Action Litigation Looms As New Hurdle for EIA Insurers
Source: Investment News (subscription required)
Permalink posted by armandn @ 8:40 AM 
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