Based mostly on the jury verdict, complete damages for the category comprised of roughly 2,000 policyholders are actually estimated at $83.2 million after deducting prior settlement funds. With curiosity added, complete damages are estimated at $211.3 million.
Indianapolis, IN. – Weisbrod Matteis & Copley PLLC and DeLaney & DeLaney LLC gained a precedent-setting victory in a jury trial in a nationwide class motion lawsuit in opposition to CNO Monetary Group, Inc. and CNO Providers, LLC regarding life insurance coverage coverage overcharges. The federal court docket jury verdict considerations “LifeTrend” insurance policies issued by a former CNO subsidiary, Conseco Life Insurance coverage Firm.
On June 18, 2025, an Indianapolis jury awarded damages to steer plaintiffs William “Jeff” Burnett and Dr. Joe Camp on their claims for breach of contract. The jury adopted the damages mannequin offering the most compensation to policyholders. After discovering that the breaches of the insurance policies induced the plaintiffs to give up their insurance policies, the jury awarded Dr. Camp $205,141 and Mr. Burnett $13,911 (not together with curiosity). Based mostly on the jury verdict, complete damages for the category comprised of roughly 2,000 policyholders are actually estimated at $83.2 million after deducting prior settlement funds. With curiosity added, complete damages are estimated at $211.3 million.
The case is Burnett, et al. v. Conseco Life Insurance coverage Co., et al., and was filed in 2012. The case is pending in the USA District Court docket for the Southern District of Indiana. The go well with was licensed as a nationwide class motion over CNO’s objection. Plaintiffs allege that CNO overcharged policyholders with massively elevated premiums and “price of insurance coverage” expenses that weren’t allowed underneath the coverage phrases. CNO’s actuaries projected that 1000’s of policyholders would give up their insurance policies somewhat than pay the overcharges and, simply as CNO predicted, 1000’s of policyholders surrendered their insurance policies.
CNO denies that it may be held answerable for breaches of insurance policies issued by former CNO subsidiary Conseco Life Insurance coverage Firm, which already has settled out of the case for $27 million. That concern will likely be addressed in a second trial scheduled to start on August 25, 2025.
“The jury resoundingly rejected CNO’s defenses, accepted the policyholders’ place that damages ought to be calculated utilizing CNO’s personal inner protection valuations, and selected the damages mannequin that produces the very best damages for the policyholders,” stated co-lead counsel Stephen Weisbrod.
“We and our shoppers are thrilled with this precedent-setting victory on behalf of policyholders who suffered severe hurt after CNO improperly modified the principles,” stated co-lead counsel Kathleen DeLaney.
About Weisbrod Matteis & Copley PLLC
Weisbrod Matteis & Copley PLLC represents a wide selection of plaintiffs in insurance coverage restoration and different issues. The agency’s shoppers embody non-public fairness companies, product producers, property house owners, know-how firms, authorities companies, trusts, and lots of others. WMC has workplaces within the District of Columbia, Miami, Seattle, Jackson, and San Juan. For extra data, please go to us on-line at www.wmclaw.com.
About DeLaney & DeLaney LLC
DeLaney & DeLaney LLC is an Indianapolis boutique litigation agency dealing with quite a lot of civil litigation issues together with class actions, in Indiana’s federal and state trial and appellate courts. The agency is proud to have been acknowledged as an AV rated regulation agency by LexisNexis Martindale-Hubbell, and has been honored many occasions by Greatest Attorneys and SuperLawyers. For extra data, please go to us on-line at www.delaneylaw.internet.
