NY lawsuit over premium financing tests oversight promised by Reg 187

April 23, 2024 by John Hilton

A premium financing deal gone bad in New York State is generating a new round of criticism from those say the practice is often misused with troubling results.

Filed in New York State Supreme Court, Ester Aronson and Baruch Aronson are suing Brave Strategies, Penn Mutual Life Insurance Co., MassMutual Life Insurance Co. and New York Life Insurance Co.

The case is notable for two reasons: First, the life insurance policies in the Aronson’s premium finance deal included death benefits totaling more than $150 million. 

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Originally Posted at InsuranceNewsNet on April 18, 2024 by John Hilton.