Ceres Group, Inc.

Ceres group announces settlement of class action litigation

Published in Law and Health Weekly, October 16th, 2004

Ceres Group, Inc., (CERG) has agreed to settle a previously disclosed California class action lawsuit pending against it and its subsidiaries, United Benefit Life Insurance Co. (UBL) and Central Reserve Life Insurance Co., as well as a related action involving its subsidiary, Provident American Life and Health Insurance Co. (PALHIC).

These suits relate primarily to challenges to premium increases for California holders of major medical policies issued by UBL and PALHIC. UBL terminated all of its policies nationwide as of December 31, 2001, or in limited cases as of February 28, 2002. PALHIC has only 400 active policyholders (none in California) and discontinued new...

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Source: Law and Health Weekly (2004-10-16)

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