Fischl v. Pacific Life Ins. Co.

(Trial Court Correctly Granted Summary Judgment To Life Insurer Because, While Regulations Require A Suitability Analysis To Be Conducted Before Variable Life Insurance Is Issued, They Permit An Insurer Issuing Such Insurance To Rely On The Suitability Analysis Conducted By A Licensed Broker Instead Of Conducting Independent Analysis)

(September 2023) - In Fischl v. Pacific Life Ins. Co., 94 Cal.App.5th 108 (Aug. 3, 2023), the California Second District Court of Appeal affirmed the trial court's order granting summary judgment to Pacific Life in a case alleging Pacific had a duty imposed by Cal. Code Regs. tit. 10, section 2534.2(c) to independently analyze the plaintiff-applicant's suitability for the variable life insurance policy that remained actionable notwithstanding a previous release given by the plaintiff.