Conseco Agrees To $100.3 Million Dollar Class Action Settlement

Insurer Conseco Inc., has agreed to a $100.3 million class action settlement for a suit filed against it in 2004. The suit alleges the insurer charged consumers desiring life insurance policies excessive premiums or forced others to surrender their existing polices for cash in order to increase the company’s finances. The suit is still subject to the court’s approval but appears to be in line with an acceptable settlement amount. This is a good result for those who were strong armed by the powerful insurance giant to pay excessive premiums.  This type of inappropriate behavior should not be tolerated and thanks to the hard work of the attorney’s involved, yet another insurance company will be held accountable for its deplorable actions.