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Goldenberg Schneider Accuses CNA of Wrongfully Imposing Huge Nationwide Rate Increases on Long-Term Care Policyholders

On Behalf of | Jun 21, 2024 | Firm News |

Several pending class action lawsuits filed by Goldenberg Schneider and co-counsel accuse CNA Financial of illegally raising premium costs for its long-term care insurance policyholders in a nationwide scam that Goldenberg Schneider attorneys say served as a “bait-and-switch” to lure those looking for reasonably priced insurance to cover potential expenses related to their future long term care costs. The lawsuits allege that CNA enticed would-be customers with empty promises of low, stable insurance premiums that would not increase unless premiums increased for everyone of the same age and coverage plan. Despite its own promises, CNA increased the premium of the lawsuit’s plaintiff by 95 percent, and admitted the increase was not uniform for everyone in the same age category or premium class. When it marketed the Policy to plaintiffs, CNA provided a brochure that assured plaintiff and class members that the Policy would provide long-term stability and that Plaintiff and other class members would not be subject to disparate or discriminatory rate increases. CNA doubled premiums for some customers and not others, despite promises of only across-the-board increases.
The litigation challenging CNA’s group long-term care insurance rate increases began in 2018 and since then four additional cases have been filed seeking to protect the interests of hundreds of thousand of policyholders. The litigation recently entered a new phase when Goldenberg Schneider and co-counsel filed an amended complaint on behalf of a nationwide class that contains newly discovered details regarding CNA’s wrongful conduct, including fraud and breach of contract. For more information about this litigation, go to: https://www.hbsslaw.com/cases/cna-long-term-care-insurance-premium-increases.

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