Court Upholds $28 Million Verdict and Approves Additional Interest in Kansas City Life Insurance Breach of Contract Case
Kansas City, MO – In a landmark ruling, the Western District Court of Appeals has confirmed that prejudgment interest should be tacked onto a $28 million jury verdict in a class action lawsuit against Kansas City Life Insurance Company (KCL). The decision, issued on September 24, overturns an earlier denial of the prejudgment interest and underscores a breach of contract concerning the insurer’s method of calculating policy cash values. The litigation initiated by David B. Karr, representing over 8,000 policyholders, stems from allegations that KCL improperly deducted from the accounts’ monthly cash value under the … Read more