The plaintiffs brought a motion to certify a class action against a life insurance company, alleging breach of contract regarding increases to the cost of insurance and administrative fees for universal life insurance policies.
The court had previously adjourned the motion to allow for further evidence on how the fees were calculated.
After reviewing actuarial evidence, the court found that the insurer had set and adjusted the fees in accordance with the policy terms and industry practice.
Concluding there was no basis in fact for the breach of contract claims, the court dismissed the certification motion in its entirety.
