United States District Court for the Eastern District of Virginia (Richmond Division)
Case No. 3:19-cv-00049-REP
The Court’s approval of the Settlement is final. Pursuant to the terms of the Settlement, Genworth is sending Special Election Letters to Settlement Class Members on a rolling basis. Most Settlement Class Members can expect to receive a Special Election Letter approximately eight months prior to their policy anniversary date.
Welcome to the Information Website for the Skochin v. Genworth Life Insurance Company Class Action Settlement.
A Settlement has been reached between the parties in the Jerome Skochin, et al. v. Genworth Life Insurance Company, et al. class action lawsuit brought in the United States District Court of the Eastern District of Virginia (the “Class Action”). On November 12, 2020, the Court granted final approval of the Settlement.
The purpose of this website is to describe the Class Action and to inform Settlement Class members of the Settlement terms.
The Class Action was 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 denied any wrongdoing or legal liability in the lawsuit. The Court did not determine whether Genworth committed any wrongdoing or was liable to the class for any damages. A Settlement was reached between the parties to avoid the uncertainties, risks, expenses, and business disruption of continued litigation balanced against the settlement benefits to the Settlement Class. The Court approved the proposed Settlement as fair and reasonable.
The information on this website is only a summary of the Settlement. 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.