News & Analysis as of

RICO Life Insurance Financial Services Industry

Carlton Fields

The Mystery Continues: IUL Proprietary Indices Challenged in RICO Suit

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Since the enactment of the Racketeer Influenced and Corrupt Organizations (RICO) Act, it has been invoked in civil litigation with mixed results. Congress did not intend for RICO to become a surrogate for plaintiffs’ state...more

Carlton Fields

Defendants Fend Off Challenge to FIA’s Proprietary Index

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The End or the Beginning for Suits Over Disappointed Index Interest Expectations? Security Benefit Life Insurance Co. and Guggenheim Partners recently secured an important victory in a class action challenging a fixed...more

Carlton Fields

Eighth Circuit Affirms Dismissal of RICO Claim in So-Called Shadow Insurance Suit

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In Ludwick v. Harbinger Group, the U.S. Court of Appeals for the Eighth Circuit affirmed the dismissal under the McCarran-Ferguson Act of a federal RICO claim against Fidelity & Guaranty (and its owner and several affiliates)...more

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