Insurance Cos. Clash Over Gift System Patent

Law360, New York (July 1, 2009, 12:00 AM EDT) -- Equitable Life & Casualty Insurance Co. has accused rival American National Insurance Co. of infringing a patent covering a system that releases life insurance payments as gifts to designated beneficiaries.

The complaint, lodged Tuesday in the U.S. District Court for the District of Utah, alleges American National sells a product that uses the principles and claims of Equitable’s patented system without authorization.

The defendant uses a Web site that promotes American National’s “Guaranteed Memories” system, an insurance program that releases a defined gift payments to a...
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