Insurers To Pay Up To $5.4M To End Cancer Coverage Suit

Law360, New York (April 9, 2012, 1:36 PM EDT) -- An Oklahoma federal judge on Friday approved a settlement worth up to $5.4 million in a putative class action accusing Philadelphia American Life Insurance Co. and Occidental Life Insurance Co. of North Carolina of underpaying cancer patients for covered radiation and chemotherapy benefits.

U.S. District Judge David L. Russell signed off on the settlement in which class members can receive a one-time payment of up to $1,200 each for a past or future claim under their cancer policies with the insurers or surrender their policies for...
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