Court Verifies $34.3 M Jury Verdict Against State Farm Life Insurance Coverage – Insurance News Net

8July 2020



The class action was filed in June 2016, in the Western District of Missouri by Michael Vogt and other individuals who owned universal life insurance coverage policy type 94030 provided by State Farm. The lawsuit alleged that State Farm breached the regards to the policies by overcharging insurance policy holders through cost of insurance coverage provisions causing policies to lose value and in a lot of cases lapse, leaving numerous without life insurance. Trial commenced June 1, 2018 and the jury awarded $34.3 million to approximately 24,000 Missouri insurance policy holders. State

Farm interested the Eighth Circuit asserting various errors and Vogt cross appealed. Vogt prevailed on all concerns.”We’re very happy with the court’s choice to verify the high court,”stated John Schirger, co-lead counsel and starting partner of Miller Schirger LLC.” We hope that these policyholders, who for decades were unknowingly overcharged, will quickly lastly receive payments.””Numerous insurance providers define the cost of their insurance coverage fees by defining factors outside normally considered death components and in this case the costs of charges weren’t outlined with specificity,”said Norman Siegel, co-lead counsel and founding partner of Stueve Siegel Hanson LLP.”The court’s choice verifies that, simply put– if you want to charge for it, you require to put it in the contract.” Advertisement Stueve Siegel Hanson LLP and Miller Schirger LLC are currently

representing clients in similar cases in California, Texas and the State of Washington, and are examining matters involving life insurance coverage policies across the country. The companies have an effective record prosecuting class action cases declaring policy overcharges versus the life insurance industry, having collected over$ 2.25 billion in customer worth over the last 5 years against some of the country’s largest life insurance companies. Stueve Siegel Hanson LLP is a Kansas City, Missouri based company representing businesses and individuals in high-stakes lawsuits across the country on a contingency basis. The company is one of the preeminent complainant’s trial law practice in the country, known for its high-stakes, landmark verdicts and settlements in considerable private and class action lawsuits. Since its facility in 2001, the firm has led some of the most complex and prominent cases in state and federal courts, recuperating billions in decisions and settlements. To learn more visit http://www.stuevesiegel.com. Miller Schirger LLC is a Kansas City, Missouri based law practice focused on fixing complex conflicts on behalf

of services and people nationwide. The company has a tested track record of success representing complainants and offenders in state and federal trial and appellate courts. For over ten years the firm’s class action practice has actually been focused on prosecuting claims against the life insurance market, resulting in the recovery of over$2.25 billion in customer worth. For more details visit http://www.millerschirger.com. Vogt v. State Farm Life Insurance Co., No. 18-3419( 8th Cir. 2020)Source: insurancenewsnet.com

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