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Archive for July, 2014

The Tale of Two Policy Owners

July 24th, 2014 No comments

It was the best of times, it was the worst of times,
It was the age of wisdom, it was the age of foolishness,
It was the epoch of belief, it was the epoch of incredulity,
It was the season of Light, it was the season of Darkness,
It was the spring of hope, it was the winter of despair,
We had everything before us, we had nothing before us…

These words came to me as I was reading the enthralling piece by Michael Lewis. Michael Lewis, as you may know, is the author of Flash Boys: A Wall Street Revolt and the New York Times article on March 31 titled “The Wolf Hunters of Wall Street.” Read more…

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Life Insurance Odds & Ends – Recent Court Actions

July 7th, 2014 No comments

Following is my periodic Odds & Ends post. If you care to review expanded background, facts, results or relevance regarding any of these recent cases, please contact my team and we’ll be happy to provide this to you.

1. TOPIC: Carrier Improperly Failed to Pay AD&D Benefits

CITE: Ferguson v. United of Omaha Life Ins. Co., et al., No. WMN-12-1035 (D. Md. Mar. 11, 2014).

SUMMARY: A Maryland federal court recently permitted the estate of an insured to recover accidental death insurance benefits under a group policy where the insured, who suffered from epileptic seizures, drowned in a public swimming pool. The group policy terms provided that a claim would only be paid if an injury, independent of sickness and all other causes, occurred as a result of an accident. The carrier initially denied the claim for benefits after concluding that the injury, the insured’s death, was not independent of sickness as the insured must have experienced a seizure that contributed to his death while swimming. The court found that, regardless of whether the insured suffered a seizure prior to drowning, his death was independent of any sickness as it was caused solely by the insured’s accidental drowning and not as the result of a seizure Read more…

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