Credit: md3d/Adobe Stock Genworth Insurance Accused of Terminating Policies to Compel Reinstatements, Forfeitures on Customers
The lawsuit, filed in California Superior Court for the County of Sacramento, raised California Insurance Code Sections 10113.71 and 10113.72, which require life insurers to comply with a 60-day grace period and provide proper notice before terminating a policy for nonpayment of premiums.
March 06, 2024 at 12:00 PM
3 minute read
Insurance Law
A California state court class action lawsuit has accused Genworth Life and Annuity Insurance Co. of terminating hundreds of policies without lawful reminders and allegedly disregarding the grace period provisions required by state law.
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