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Glancy Prongay & Murray LLP, and the Law Offices of Sean K. Collins, Announce Investigation of Cigna Group Insurance (now New York Life)'s Handling of Long-Term Care Insurance ClaimsGlancy Prongay & Murray LLP ("GPM"), a leading national consumer rights law firm, along with the Law Offices of Sean K. Collins ("SKC") a leading national insurance benefits law firm, today announced that it is investigating on behalf of elderly individuals insured by long term care insurance originally underwritten by Cigna Group Insurance units, which has been acquired by New York Life1, allegations that the insurer is violating policy terms and state laws in connection with its handling of coverage for assisted living facility claims. GPM and SKC are part of a team of attorneys pursuing claims in two related class actions matters, (Rain et. al. v. Insurance Company of North America, et. al., 3:17-cv-30115-MGM and Issokson et. al. v. Insurance Company of North America, et. al., 3:18-cv- 30070-MGM). It is alleged in those actions that Cigna Group Insurance issued assisted living facility coverage denial letters that materially misstate the terms of the long-term care insurance policies owned by its elderly poicyholders. The coverage at issue was originally sold to the following association groups (among others) over 30 years ago by Cigna Group Insurance units:
In addition to categorically excluding assisted living facilities from coverage and issuing false and misleading denial letters that misrepresent policy language, the Rain and Issokson plaintiffs allege that the insurer is miscalculating inflation protection coverage using a simple interest formula rather than a compound interest formula. The defendant insurer denies all allegations. If you, or a family member, had their claim for assisted living facility coverage denied by Cigna Group Insurance units or the entity thatacquired it (New York Life) and would like to inquire about potentially pursuing claims to recover your loss under state law, you can submit your contact information at https://seankcollinslaw.com/contactus/ or call 855-693-9256 to speak with an attorney. You can also contact Ex Kano S. Sams II, of GPM at 310-201-9150, Toll-Free at 888-773-9224 for more information about your rights. 1 New York Life Completes Acquisition of Cigna's Group Life and Disability Insurance Business Follow us for updates on LinkedIn, Twitter, or Facebook. About GPM Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM's nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM's lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM's attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM's past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron's, Investor's Business Daily, Forbes, and Money. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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