This is kind of a strange story and the Life Settlement business is not always written about in a favorable fashion just because of what it is and this law suit was even stranger. I think the internet is full of people expressing their opinions and we see it every day and so again the grounds of this suit are just strange unless there was some kind of loop hole being explored? Basically it sounds like they didn’t like the way the industry as a whole was being discussed and again when has the first amendment not been allowed? Another life settlement company earlier this year admitted to an SEC investigation on their practices.
Life Partners Confirms Investigation by SEC-Life Settlements Where Insured Are Living Longer Than the Risk Projections-Investors Paying Long Than They Want
When investors take over an insurance policy that was originally sold to an individual and looks for a return, what can you say? It kind of is what it is and there’s been plenty on the web over the years from major papers and so forth on this topic. Enter analytics and projections with behavioral analytics being used everywhere today and the algorithms and the decisions made from their use certainly opens up the doors for a lot of questions and not just for this industry as it’s everywhere. There are companies doing risk assessments all over the place to guestimate how long someone will live and it’s in the healthcare side too. We have a country stuck on analytics which is not a bad thing, but how they are interpreted and used when financial gain enters the picture is the issue. We have Dead Peasant life insurance policies that are all over the news from time to time as well and let’s face it the ethics here allow questions and opinions for anyone to pose.
This is just bizarre in nature with the filed lawsuit and again the first amendment prevails with all being able to express their opinions. BD
Life insurance settlement provider Coventry First has dropped a trademark infringement lawsuit it filed in federal court alleging anonymous defendants were posting false Twitter messages saying that it wants people to die quickly.
Filed in the U.S. District Court for the Eastern District of Pennsylvania, the suit listed "Does 1-10, inclusive," as defendants. After many anonymous attacks, including postings on Twitter, the company sued "to obtain the records from Twitter to ascertain who is behind these anonymous attacks," Alan Buerger, chief executive officer of Coventry First, told BestWire in June (BestWire, June 14, 2011).
Paul Levy, the attorney who represented the anonymous Twitter user, said Coventry First dropped the suit "when it learned what argument we were going to make in seeking sanctions against its lawyer and getting the case dismissed." The company "ignored the proper way to get into court," said Levy, an attorney with Public Citizen.
One Tweet read: "sure, maybe health ins. companies want u to die fast once you get sick but they want u healthy for a long time first. Coventry wants u dead NOW!" and "the faster people die the more coventry first profits! Not even cig companies want their customers to die as fast" (BestWire, June 14, 2011).
Coventry First, one of the largest life settlement providers in the United States, buys life insurance policies from policyowners who no longer need their insurance and aggregates these policies for institutional investors around the world.