LIFE INSURANCE LITIGATION CLASS ACTION

Case Name:	Robert Kenny v. Industrial-Alliance Pacific Life Insurance Company aka North West Life and Seaboard Life Insurance Company
Court:	Supreme Court of British Columbia
Date Filed:	August 8, 2006
Class Members:	All persons resident in British Columbia and resident elsewhere in Canada who purchased a Term Life Coverage to 100 insurance policy (“the Life Insurance Policy”),between August 1, 1983 and March 31, 1992, that had an adjustable premium which was adjusted between the date on which the policy was issued and (i) the date on which the policy lapsed; (ii) the date on which the named policyholder died; or (iii) December 31, 2009. whichever occurred first.

Nature of the Case:

Class members purchased Life Insurance Policies from the Defendant and paid the required premiums. The Life Insurance Policies are standard form contracts, which contain a term that:

The Annual Premium shown on the Policy Details Page of this Policy is calculated using a rate per thousand dollars of Sum Insured (hereinafter referred to as the Rate). The Annual Premium will remain the same during the first five Policy Years. On the fifth Policy Anniversary and every fifth Policy Anniversary thereafter, Seaboard Life will review and if necessary change the Rate, taking into account anticipated experience of interest rates, expenses and mortality, which is no less favourable to you than those used in the calculation of premiums for a new policy of the same type, and will advise you of the Rate for the next five Policy Years.

(the above will be referred to as the “Review Clause”)

The Plaintiff says that the manner in which the Defendant interpreted and applied this Review Clause breached contractual and tort duties to the class members, and violated its duty to act with the utmost good faith and fair dealing in its relationship with the Class Members.

The Defendant denies all of the Plaintiff’s allegations.

Settlement Has Now Been Approved:

The settlement was approved by the Supreme Court of British Columbia on April 22, 2010. Pursuant to the terms of the Settlement Approval order, the settlement will not become effective until the time for appealing the settlement has expired. Current policy holders will receive notice of the settlement approval by mail. In the meantime, further information will follow in the next few weeks on the claims process. Please continue to check our website for updates.

Click here for CLAIM FORM

Click here for OPT OUT FORM

Writ of Summons & Statement of Claim can be viewed here.

Notice of Settlement can be viewed here.

Unsigned Settlement Agreement can be viewed here.

Appeal Form can be viewed here.

For more information please contact Natalie Fulton, Paralegal at (604)689-7555 or by e-mail at nfulton@cfmlawyers.ca.