Insurance
Jan. 22, 2011
Judge Halts Life Insurer Rate Hike
A nationwide life insurance company facing financial woes and a long history of criticisms about delayed claims payments has been blocked by a federal judge in Los Angeles from raising premium rates.
Daily Journal Staff Writer
LOS ANGELES - A nationwide life insurance company facing financial woes and a long history of criticisms about delayed claims payments has been blocked by a federal judge in Los Angeles from raising premium rates on elderly policy holders.
Regulators in California and other states had raised concerns that Conseco Life Insurance Co. may not be able to cover its liability costs in the future.
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