Richard Spoor Inc in legal showdown with Constantia Insurance
The legal firm says the cancellation of more than 5,000 life policies was to get rid of loss-making business
Richard Spoor Attorneys has launched an application at the Financial Services Tribunal to review the Prudential Authority’s (PA) decision to allow Constantia Insurance to cancel more than 5,000 life policies. That took place after the insurer converted its licence from a short-term to a non-life insurer due to changes in legislation.
The legal firm, which has made a name for itself representing communities in class-action law suits including landmark litigation against mining companies whose workers suffered silicosis-related health issues, is representing eight policyholders whose life policies were cancelled by Constantia Insurance. The firm also has a power of attorney mandate to represent an additional 102 policyholders who had life policies with Constantia Insurance that were cancelled...