Genworth $80 Million-Plus Deal Over Premium Increases Gets OK

Objections to Genworth Financial Inc.'s more than $80 million class settlement over premium increases for long term care insurance policies were overruled by the Eastern District of Virginia following oral arguments and further briefing on the would-be class member’s concerns.

Judge Robert E. Payne separately approved attorneys’ fees over objections in a second order, also issued Thursday. According to the order, class counsel will be entitled to $2 million, plus 15% of the settlement class’s net damage awards up to a cap of $24.5 million. Each class representative will receive a $25,000 incentive award.

Numerous objections were raised including to ...