Although Largely Deflated, IUL Illustration Statute Lawsuit Rolls On

July 26, 2018 by Dawn Williams

Almost a year ago, the U.S. Court of Appeals for the Ninth Circuit ruled that an alleged violation of California’s illustration statutes could serve as a predicate for liability under the California Unfair Competition Law. Since then, the case in which that decision was rendered has yielded some interesting results. The case I’m referring to Walker v. Life Insurance Company of the Southwest.

As a refresher, the Ninth Circuit ruling reversed in part a decision by the U.S. District Court for the Central District of California in a certified class action of indexed universal life policyholders residing in California.

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Originally Posted at InsuranceNewsNet on July 25, 2018 by Dawn Williams.