Woman's $5M AIG Life Policy Valid Despite Alleged Fibs: Court

Law360, New York (February 14, 2012, 5:40 PM EST) -- An AIG subsidiary must honor a $5 million life insurance policy for a woman the company suspected of misrepresenting her wealth on her initial application, according to a New York state appeals court opinion issued Tuesday.

The appeals court panel reversed a lower court judge’s March decision to deny summary judgment to Rebeka Blumenfeld, who argued that her policy should be valid because The United States Life Insurance Co. in the City of New York accepted her premium payments even after they suspected she had misled...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.