Judge Overrules Objections To Settlement Agreement In Suit Over Premium Increases

Mealey's (November 13, 2020, 11:36 AM EST) -- RICHMOND, Va. — A federal judge in Virginia on Nov. 5 overruled individual class members’ objections to plaintiffs’ motion for final approval of a settlement of their class action alleging that their long-term care insurer failed to disclose information about its policies and its policies’ premium increases, finding that “if the most conservative and the most liberal assumptions are disregarded,” the cash damage payments’ estimated value would be $130 million (Jerome Skochin, et al. v. Genworth Life Insurance Co., et al., No. 19-49, E.D. Va., 2020 U.S. Dist. LEXIS 207925)....