Plaintiff Voluntarily Dismisses Colo. Federal Universal Life Insurance Case

DENVER — A Colorado man has voluntarily dismissed an action in which he accused an insurer and a reinsurer of breaching a universal life insurance policy by improperly making certain Cost of Insurance (COI) deductions from the policy’s cash value.

In a Jan. 22 filing in the U.S. District Court for the District of Colorado, plaintiff Robert Barnes dismissed the case without prejudice, noting defendants have not yet filed answers or motions for summary judgment.

Barnes sued Security Life of Denver Insurance Co. (SLD) for breach of contract and conversion, accusing the insurer of failing to comply with the …