Fee Increases: Insurance Company and Ontario Court

fee increases: Sun Life's headquarters in Waterloo, according to The Toronto Star. The Ontario Court of Appeal certified a class action against the company last week alleging the insurance company breached its contracts when calculating fee increases on the policies. Sun Life said it had unequivocal evidence that Met Life's agents misrepresented to Canadian consumers how the cost of their insurance could rise over the life of the policy. Mathew McCarthy / Waterloo Region Record file photo Sun Life, who now administers these policies, wanted Met Life to be on the hook for any legal claims by consumers who said they were paying more for their insurance than had been promised. Those customers scored a significant win last week after the Ontario Court of Appeal certified a class action against Sun Life alleging the insurance company breached its contracts when calculating fee increases on the policies. While the court battle was unfolding, Sun Life continued to administer the plans, charging increasing premiums to hundreds of thousands of Canadians while deceitfully concealing its knowledge that systematic sales misrepresentations had occurred, according to allegations filed in a long-running lawsuit brought by angry customers against Sun Life. (news.financializer.com). As reported in the news.