Insurer's Complaint Over Policy Rescissions Nixed

Law360, New York (June 12, 2009, 12:00 AM EDT) -- A federal court has dismissed a third-party complaint that Lincoln National Life Insurance Co. filed against a statutory trust to declare the insurer not liable for a slew of life insurance policies the trust asked it to rescind based on allegations that insurance agents had lied on the policy applications.

Judge Dean D. Pregerson dismissed Lincoln’s complaint without prejudice in the U.S. District Court for the Central District of California on Thursday, ruling that the insurer cannot sue The CAP Accumulation Trust for declaratory relief....
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