A nationwide class action over insurance policies that consumers buy when they take out retail loans has settled for $45 million. The litigation was over what are called credit life and credit disability insurance policies, which consumers buy when they take out a loan to buy, for example, a car. The settlement provides that JMIC Life Insurance will not object to an attorney fees award of up to one-third of the $45 million, according to a class co-counsel.
November 05, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A nationwide class action over insurance policies that consumers buy when they take out retail loans has settled for $45 million.
Muscogee County Superior Court Judge Douglas C. Pullen preliminarily approved the settlement Wednesday. That means consumers who say JMIC Life Insurance Co. owes them part of their insurance premiums will get an as-yet-to-be-determined amount of money.
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