It seems the statute of limitations has hit insurance giant AXA Equitable Life Insurance Company where it hurts. The disability carrier attempted to sue a disabled insured for alleged fraud in the application for his disability policy. The court decided that because AXA Equitable waited too long to sue the insured after it had learned of information that could constitute fraud, the company was out of luck. The Appellate Division upheld the trial court’s dismissal of the disability insurance company’s lawsuit.
AXA Equitable Life Insurance Company v. Malen, 986 N.Y.S.2d 132 (1st Dep’t 2014)
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