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.
Fracking's Back In California
As if California has not had enough bad news, fracking is now back.
Watchdog Says Car Insurance Companies Should Reduce Premiums
By Randy Mac, KNBC TV-4 Los Angeles, CA
April 7, 2020
https://www.nbclosangeles.com/news/watchdog-says-car-insurance-companie…
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.
Plaintiffs Say Transamerica Settles Lawsuit Over Universal Life Policy Charges
By Staff Writers, CITY NEWS SERVICE (LA)
April 7, 2020
LOS ANGELES (CNS) - Transamerica Life Insurance Co. has agreed to settle a class-action lawsuit filed in Los Angeles, alleging that the company improperly increased the monthly charges of holders of universal life policies, the plaintiffs' attorneys announced today.
California Issues First New Fracking Permits Since July
By Adam Beam, ASSOCIATED PRESS
April 4, 2020
https://www.msn.com/en-us/news/us/california-issues-first-new-fracking-…
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.
