Transamerica Settles Class-Action Suit Worth Up to $88 Million in Credits

By Timothy Darragh, BEST WIRE

April 8, 2020

Transamerica Life Insurance Co. has agreed to settle a class-action lawsuit filed by policyholders who alleged it improperly increased monthly charges on their universal life insurance policies.

According to the settlement agreement in U.S. District Court in Los Angeles, Transamerica will pay up to $88 million in account value credits to policies in effect and those for which death claims were pending as of Dec. 31, 2019.

Watchdog Says Car Insurance Companies Should Reduce Premiums

By Randy Mac, KNBC TV-4 Los Angeles, CA

April 7, 2020…

On Monday Allstate insurance announced it’s issuing partial refunds to its car insurance customers due to “stay at home” orders. But consumer advocates say the entire industry needs to step up.

The once clogged freeways in the LA region are mostly empty.

Transamerica Settles Lawsuit Concerning Increases in “Cost of Insurance” Charges

Los Angeles, CA – Transamerica Life Insurance Company has agreed to settle a class action lawsuit brought on behalf of policyholders across the United States alleging that Transamerica improperly increased themonthly charges that the company withdrew from the accounts of policyholders who own“TransUltra 115 98/99” or “TransSurvivor 115 97/98/99” “universal life” insurance policies.Transamerica increased the monthly deduction charges on those policies in October 2017 and June 2018, respectively.

California Issues First New Fracking Permits Since July


April 4, 2020…

SACRAMENTO, Calif. (AP) — California issued 24 hydraulic fracturing permits on Friday, authorizing the first new oil wells in the state since July of last year and angering environmental groups who have been pressuring the state to ban the procedure known as fracking.