Federal Judge Dismisses Claims In Row Over Alleged ‘No Value’ Insurance Policies

Mealey's (December 12, 2022, 3:09 PM EST) -- TRENTON, N.J.  — A New Jersey federal judge on Dec. 9 granted a successor insurer’s motion to dismiss counterclaims in its declaratory judgment suit seeking a declaration that life insurance policies it issued that are now owned by an insolvent insurer are void ab initio, finding that the insolvent insurer’s counterclaims for fraud, negligent misrepresentation, violations of the Texas Deceptive Trade Practice Act (DTPA) and promissory estoppel were insufficiently alleged....