Conseco Insurance Rate Hikes Don't Fly, Judge Says

Law360, New York (January 20, 2011, 7:51 PM EST) -- The federal judge overseeing a class action over Conseco Life Insurance Co.'s allegedly unlawful plan to triple the rates of certain universal life policies has determined that the proposed increase would breach the insurer's contracts with its policyholders.

Judge A. Howard Matz of the U.S. District Court for the Central District of California on Wednesday granted plaintiff Celedonia X. Yue's motion for summary judgment on her declaratory relief claim related to her contention that the insurer violated the terms of its Valulife and Valuterm policies when...
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