Florida Federal Judge: Counterclaim Against Insurer In STOLI Action Can Stand

MIAMI – A Florida federal judge on July 7 let stand a financial institution’s counterclaim for negligent misrepresentation against a life insurer that was suing to have a $10 million life insurance policy declared void. The insurer argued that the policy was a stranger-oriented life insurance (STOLI) policy and that the policy owner had no insurable interest in the life of the insured (Pruco Life Insurance Co. v. Steven M. Brasner, et al., No. 10-80804, S.D. Fla.; 2011 U.S. Dist. LEXIS 72752).
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