Author: Brian Casey

In an important decision issued in April 2024, the Florida Fifth Judicial Circuit Court, applying Delaware law, granted summary judgement to Viva Capital 3, L.P. awarding it the right to offset the amount of insurance premiums it had paid for a $10m life insurance policy issued in 2006, which Viva had purchased in a tertiary life settlement policy purchase transaction, against the death benefit to which the insured’s estate was entitled to recover from Viva under Delaware’s insurable interest statute. Viva received payment of the policy’s death benefit in May 2017, after having owned the policy for only about six months.…