TLO Wants Founder's $40M Pruco Life Insurance Policy

Law360, New York (July 19, 2013, 4:23 PM EDT) -- Bankrupt data systems provider TLO LLC has sued a Prudential Insurance Co. of America unit in Florida federal court, alleging the insurer is refusing to pay TLO benefits from a $40 million life insurance policy that was held by its deceased founder, Hank Asher.

TLO says Pruco Life Insurance Co. sought to rescind its obligation by saying that Asher's life insurance application failed to disclose medical conditions that would have blocked him from receiving the policy, such as major depressive disorder, histrionic disorder and sleep apnea,...
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