United States:
Equitable Surcharge Awarded To Life Insurance Plan Beneficiary
23 June 2014
Proskauer Rose LLP
To print this article, all you need is to be registered or login on Mondaq.com.
A federal district court in California awarded relief in the
form of surcharge to a life insurance plan beneficiary who claimed
that a plan administrator failed to provide complete and accurate
information in response to inquiries about how to prevent coverage
from lapsing. In so ruling, the court stated that the plan
administrator's response to the decedent did not answer her
questions or direct her to where she could find the requested
information. As a result, the court determined that equitable
surcharge was the most suitable remedy and awarded the beneficiary
an amount equal to the face value of the life insurance policies.
The case is Echague v. Metro. Life Ins. Co., 2014 WL
2089331 (N.D. Cal. May 19, 2014).
Equitable Surcharge Awarded To Life Insurance Plan Beneficiary
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Insurance from United States
D&O Insurance Myths (Part 2) (Video)
Lowenstein Sandler
Last month we discussed the importance of Directors and Officers (D&O) insurance and set the record straight on some common misconceptions about it.
Faulty Workmanship Coverage Update
Plunkett & Cooney
The Washington Supreme Court affirmed the Washington Court of Appeals ruling that coverage for repairs to the Gardens Condominium's roof components was available under the resulting loss exception to the insurance policy's faulty workmanship exclusion.
Priority Of Coverage: Debunking "Other Insurance" Myths
Lowenstein Sandler
Today on "Don't Take No For An Answer," host Lynda A. Bennett is joined by Alexander B. Corson for a discussion about priority of coverage, or who pays what when there are numerous claims, parties, and policies at play.