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Atterbury, Kammer & Haag, S.C., Settles Class Action Lawsuit Against Life Insurance Companies

Posted on Jan 28, 2014

On January 23, 2014, United States District Court Judge William Conley granted final approval to a class action settlement prosecuted by Atterbury, Kammer & Haag, S.C., attorney Eric J. Haag.  The class was made up of beneficiaries to life insurance policies issued by ReliaStar Life Insurance Company and the Security Life of Denver Insurance Company in the State of Illinois during a 10 year time span.  The suit alleged that those insurance companies had a policy of paying less interest than was required by statute in Illinois.  Attorney Haag filed the case more than two years ago and reached a preliminary settlement last Summer.  After approximately 900 class members submitted claims, and no one filed an objection to the settlement, the Court granted final approval to the settlement last week and ordered the insurers to pay the money in accordance with the settlement agreement.  The total settlement, including payment of the class representative's individual claim, totals $950,000.