Premiums and Benefits - Expectations

  • Mr. Birnbaum suggested that questions for consumer testing could come from the Assurity white paper, such as whether a consumer can reasonably be expected to understand the consequences of varying payment patterns after reading the summary.
  • Ms.Winer asked if it would be useful to ask states whether they have received consumer complaints about the summaries.
    • Mr. Wicka said that it would be helpful to have that kind of information but that he is not sure it would be possible to track down complaints to that level of detail.
  • Mr. Johnson said he agrees with Mr. Birnbaum that the NAIC should determine what the consumer is expected to get out of these summaries and what it wants to achieve from consumer testing.

2016-2, NAIC Proceedings - LIIIWG

  • 2016 0517 - LIIIWG - Assurity Resources - Consumer Issues Associated with Guaranteed Universal Life - NAIC - 11p

 

3. Plaintiffs failed to prove consumer expectations

  • That failure properly doomed Plaintiffs’ claim. See, e.g., Clemens, 534 F.3d at 1026 (proof of UCL fraud claim requires proof of consumer expectations by class-wide evidence: “a few isolated examples of actual deception,” “personal experience,” “personal assumptions,” and personal “expectations” of named plaintiffs are insufficient).
  • Plaintiffs can hardly complain about the court commenting on the absence of survey evidence— Plaintiffs’ own expert testified that, without a survey, he could not opine about consumer expectations. ER791 59:18-21.

2016 0208 - Walker et al v. Life Insurance Company of the Southwest - Case: 15-55809, 02/08/2016, ID: 9858577, DktEntry: 42, Page 42 of 126 - 126p