Ill. Judge OKs $2.2M Fee Bid In Life Insurance Billing Case

Law360 (June 23, 2020, 9:23 PM EDT) -- An Illinois federal judge gave final approval on Tuesday to a class action settlement and a $2.2 million attorney fee award for a group of Accordia Life and Annuity Co. customers who claimed their life insurance policies unlawfully lapsed during a system transition.

U.S. District Judge Colin Bruce said both the monetary and injunctive relief outlined in the deal between Accordia, its electronic payment collector and nearly 500,000 policyholders are fair and reasonable outcomes for the lawsuit that four policyholders launched in 2017.

The policyholders claimed their guarantees were cut on purpose when Accordia and its electronic payment collector, Alliance One...

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