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David Cohen, CLU v. Accordia Life and Annuity Company and Alliance-One Services, Inc. – Class Action Settlement

Published: Feb 22, 2021 in

David Cohen, CLU v. Accordia Life and Annuity Company and Alliance-One Services, Inc., Case No. 18-cv-458, United States District Court, Southern District of Ohio

Class Action Settlement valued at over $4 million. The Second Amended Class Action Complaint alleges that independent life insurance agents who sold and/or serviced life insurance policies issued, insured, managed, or reinsured by Accordia and administered by Alliance-One were harmed by certain delays and errors in the administration of those policies. The Complaint purports to bring a nationwide class action on behalf of such independent life insurance agents. The Complaint asserts causes of actions for breach of contract, breach of third-party beneficiary contract, breach of the duty of good faith and fair dealing, negligence, tortious interference with prospective economic advantage, tortious interference with contractual relations, and unjust enrichment. The Class to which this Settlement applies includes approximately 79,000 Settlement Class Members who sold and/or serviced approximately 530,000 life insurance policies. Mr. Cates was co-lead class counsel. – October 27, 2020