Settlement In Principal Reached In Cases Over Life Insurer’s Alleged Reinsurance Schemes

(July 2, 2019, 1:29 PM EDT) -- BALTIMORE — In two cases over an alleged life insurance fraud scheme that shifted debt to reinsurers, plaintiffs and a life insurer tell a Maryland federal court in June 28 joint status reports that they reached a settlement agreement in principal and intend to move for case consolidation and preliminary approval of that agreement (Leslie S. Rich v. William Penn Life Insurance Company of New York, No. 17-2026, Richard Dickman, et al. v. Banner Life Insurance Co., No. 16-192, D. Md.)....