Harris Beach has more than two decades of experience litigating the highly specialized field of life settlements. We have litigated challenges arising from, among others, inaccurate predictions of life expectancy, inaccurate verifications of coverage, incontestability clauses, cost of insurance increases, collateral assignments, non-recourse loan transactions, adverse claims and interpleader actions, claimed lack of insurable interests, alleged stranger-originated policy schemes, and alleged breach of representations and warranties concerning policies. Our attorneys represent life settlement providers and investors seeking to maximize their returns on life settlement investments.
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We represent investors, life settlement providers, brokers, and policy owners. Our experience includes:
- Litigating in both state and federal courts, as well as in arbitration settings across the country.
- Claims arising out of transactions to purchase or finance premiums on policies.
- Construction of life settlement purchase agreements, and the rights created and representations made thereunder.
- Claims of fraud, racketeering, and unjust enrichment.
- With respect to policies held in entitlement accounts, asserting protected purchaser and securities intermediary defenses against adverse claims under article 8 of the Uniform Commercial Code.
- Disputes over calculations of cost-of-insurance.
- Disputes over cash surrender and accumulated fund values.
- Claims arising from misleading policy illustrations and inaccurate verifications of coverage.
- Bad faith delay in the distribution of policy proceeds.
- Defending against allegations of a lack of insurable interest.
- Defending against statutory disgorgement of policy proceeds in the context of life insurance policies that are alleged to have been stranger originated.
- Assisting investors with performing due diligence on policies prior to a purchase or loan transaction.
- Counseling clients with respect to assignments of policies and of claims associated with policies.
- Counseling clients regarding governmental licensing requirements.
- Representing clients facing investigation and enforcement actions for alleged non-compliance with state regulatory requirements.
- Collaboration with the Securities Exchange Commission in cases of seizure of life settlement companies and its efforts to assist investors.