Calif. Nets $17M For Seniors In National Western Case

Law360, New York (April 22, 2011, 7:43 PM EDT) -- The California Department of Insurance said Friday it would distribute a total of $17 million to senior citizens who purchased National Western Life Insurance Co. annuities, after settling a class action over the insurer's alleged deceptive and unfair business practices.

Insurance Commissioner Dave Jones said the settlement would be distributed to 3,274 senior citizens, completing the final phase in Clark v. National Western Life Insurance Co., a case initiated in 2004 by elderly policyholders who alleged they were victimized by hidden penalties that were particularly onerous...
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