Jerome Skochin, et al. v. Genworth Life Insurance Company, et al.

The Court’s approval of the Settlement is final. Under the terms of the Settlement, Genworth anticipates that it will send Special Election Letters to Settlement Class Members on a rolling basis beginning in early January 2021 in most states. Most Settlement Class Members can expect to receive a Special Election Letter approximately eight months prior to their policy anniversary date.

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Welcome to the Information Website for the Skochin v. Genworth Life Insurance Company Class Action Settlement.

A proposed settlement has been reached between the parties in the Jerome Skochin, et al. v. Genworth Life Insurance Company, et al. class action lawsuit pending in the United States District Court of the Eastern District of Virginia (the “Class Action”), and on January 15, 2020, the settlement was granted preliminary approval by the Court supervising the lawsuit.

The purpose of this website is to describe the Class Action and to inform Settlement Class members of the proposed settlement terms and their rights and options in connection with the settlement.

The Class Action has been filed against Genworth Life Insurance Company and Genworth Life Insurance Company of New York (collectively, “Genworth”) in the United States District Court for the Eastern District of Virginia, alleging that Genworth intentionally withheld material information from long-term care insurance policyholders with respect to Genworth’s rate increase plans and its reliance on policyholders paying increased rates to pay future claims. The lawsuit asserts claims for fraudulent inducement by omission and violations of the Pennsylvania Unfair Trade Practices and Consumer Protection Law, on behalf of policyholders in all fifty states and the District of Columbia.

Genworth denies any wrongdoing or legal liability in the lawsuit. The Court has not determined whether Genworth committed any wrongdoing or is liable to the class for any damages. A proposed settlement has been reached between the parties to avoid the uncertainties, risks, expenses, and business disruption of continued litigation balanced against the settlement benefits to the proposed Settlement Class. The Court has determined that it will likely be able to approve the proposed settlement as fair and reasonable.

Because the rights of Settlement Class members may be affected, it is extremely important that you read this website carefully.

This website is only a summary of the Settlement Agreement. For the precise terms and conditions of the settlement, the complete Settlement Agreement, pleadings and documents on file in this case are available on the Important Documents page of this website.

If you are a member of the Settlement Class, below is a summary of your options in this settlement.

Summary of Your Legal Rights and Options in This Settlement

Option #1: Do Nothing	If you do not oppose the settlement of the lawsuit, then simply do nothing. You do not need to return an opt-out letter and do not need to send any documents to the Settlement Administrator. IF YOU DO NOTHING AND YOU MEET THE CLASS DEFINITION, YOU WILL BE BOUND BY THE TERMS OF THE SETTLEMENT, INCLUDING THE RELEASE. If you do nothing, you will not have the right to pursue your own action for the claims covered by the Release. If the Settlement Agreement is finally approved by the Court, you may then be sent another letter with options to elect to receive benefits in the Settlement Agreement.
Option #2: Exclude Yourself	If you do NOT want to be bound by the Settlement Agreement and wish to retain the right to proceed against Genworth on your own as to the claims encompassed by the Release, then you must notify the Settlement Administrator that you wish to exclude yourself from the Settlement Agreement and the Settlement Class.
Option #3: Object	If you want to remain in the Settlement Agreement and be bound by its terms, but you oppose any aspect of the Settlement Agreement, you may object to the Settlement Agreement.
Go to the Hearing	A court hearing concerning the fairness of the settlement and to determine whether the settlement should be given final approval will be held on July 10, 2020 at 10:00 a.m. at the following address: The Spottswood W. Robinson III and Robert R. Merhige, Jr., Federal Courthouse, 701 East Broad Street, Richmond, VA 23219, Richmond Courtroom 7400. You are not required or expected to attend the hearing in order to participate in the settlement.