Transamerica Hit With $200K Sanction In Calif. Insurance Case
By Ryan Boysen (January 10, 2018, 9:23 PM EST) -- Transamerica Life Insurance Co. has been hit with roughly $200,000 in sanctions for obstructing the discovery process in California federal court in a suit brought by a predominantly African-American church congregation that accuses the insurer of jacking up its rates partly because of their race.
The suit was filed by DCD Partners LLC, an investment company that purchased life insurance on behalf of the members of the Praises of Zion Baptist Church in Los Angeles, in a once-popular type of charitable investment scheme that's no longer widely used.
The sanctions order was entered on Monday, but it pertains to Transamerica's conduct...
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