Monumental Life Settles Premium Refund Class Action

Law360, New York (December 2, 2009, 1:04 PM EST) -- A federal judge has signed off on a settlement between Monumental Life Insurance Co. and a class of plaintiffs who claimed the insurer failed to refund unearned premiums to consumers who paid off their credit-insured motor vehicle loans and leases before the prepaid coverage period expired.

Judge Janet Arterton of the U.S. District Court for the District of Connecticut on Tuesday entered final judgment in the suit, dismissing the action with prejudice and instructing the parties and their counsel to consummate the settlement agreement.

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