Court directs verdict in favor of Insurance Agent against Lincoln Benefit Life for unpaid commissions
The United States District Court in Nebraska directed a verdict in favor
of a former Lincoln Benefit Life agent against the company as a result
of the company's failure to pay him commissions in connection with
the conversion of $29 million in life insurance. The directed verdict
came after a complete presentation of the evidence and prior to submission
of the case to the jury. This dispute was connected to an earlier dispute
between Lincoln Benefit Life and a former insured with respect to whether
life insurance policies sold by the Company contained a right to convert
those policies to whole life policies. In April 2013 a jury in the Southern
District of New York found that Lincoln Benefit Life wrongfully refused
to convert the policies to universal life policies. Subsequent to that
jury verdict, the insurance agent who placed those policies demanded contractually
required commissions be paid to him. The company once again refused and
resulted in this litigation and Memorandum and Order directing a verdict
in favor of the agent.
Click here
to read this Memorandum and Order.
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