TRUST ASSET CONSULTANTS | 1121 Olivette Executive Parkway, Ste 200 | St. Louis, MO| 63132
Trust Asset Consultants
Dispute Resolution and Litigation Support There is a lapsing life insurance policy and insurance trust insolvency crisis.  The reasons are  increasingly described as misleading, deceptive, questionable and predatory marketing practices. Such allegations are usually directed at life insurance carriers and their contracted ‘sales’ agents due to fundamental misunderstandings concerning the product purchased, carrier illustrations discussed throughout the sales process, the need for policy performance monitoring and the form it should take.     The ‘sales’ agent is held to a suitability standard as a minimum, and often a fiduciary standard depending upon licensing, employer, and association membership.  Suitability is the obvious question following policy owner receipt of a policy lapse warning, and begs the question – what was the basis for the agent’s suitability determination and how was it communicated to the prospective policy owner? Did the policy owner understand his/her/its policy risk management responsibility?  Did the sales agent explain the specific risks to be managed and recommend credible service providers? Or did the agent communicate he/she would provide this post-sales function…and not do so? Can the sales agent document his/her suitability assessment and its policy owner affirmation?    ‘Best Practices’ procedures and their ‘Dispute Defensible’ documentation are known.  TAC offers dispute resolution and expert opinion litigation support services. Litigation is costly, time consuming and emotional. ‘Dispute Resolution’ is a questionable practices option. It involves a review of policy owner uncertainties and/or disagreements concerning sales agent representations, existing carrier and product suitability, existing policy performance, and policy replacement or restructure recommendations that may lead to mediation or already has.  ‘Expert Opinion Litigation Support’ is a predatory practices option. It involves engagement of Mr. Whitelaw who has both trial and FINRA arbitration experience.