3rd Circuit Affirms Dismissal Of Claims Against Insurer For Madoff Ponzi Losses

PHILADELPHIA – Affirming a lower court’s finding that an insurer was not responsible for the investment of its insured’s life insurance premiums, a Third Circuit U.S. Court of Appeals panel on Aug. 11 ruled that claims against it for loss of those funds were properly dismissed (The Michael S. Rulle Family Dynasty Trust v. AGL Life Assurance Co., No. 10-4034, 3rd Cir.; 2011 U.S. App. LEXIS 16687).
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