Alleged insurance fraud and breach of contract in exchange of term life insurance policy for universal life insurance policy alleged to have been of lesser value than promised by agent. Tried in Fayette Circuit Court to jury verdict of $2,050,000 of which $2 million was punitive damages; remitted to $250,000 by trial court under State Farm v. Campbell. On appeal, Court of Appeals upheld prior summary judgment and directed verdict argument that claims filed untimely per applicable statutes of limitations – case ordered remanded for dismissal.
Estate of Tom Easterly v. Metropolitan Life Ins. Co.