Cleveland State Law Review Volume 22 Issue 3 Article 6 1973 Policyholder Control of a Mutual Life Insurance Company Buist M. Anderson Follow this and additional works at: https://engagedscholarship.csuohio.edu/clevstlrev How does access to this work benefit ou?y Let us know! Recommended Citation Buist M. Anderson, Policyholder Control of a Mutual Life Insurance Company, 22 Clev. St. L. Rev. 439 (1973) available at https://engagedscholarship.csuohio.edu/clevstlrev/vol22/iss3/6 This Article is brought to you for free and open access by the Journals at EngagedScholarship@CSU. It has been accepted for inclusion in Cleveland State Law Review by an authorized editor of EngagedScholarship@CSU. For more information, please contact
[email protected]. Policyholder Control of a Mutual Life Insurance Company Buist A. Anderson* F ROM TIME TO TIME DURING the last hundred years or more, there have been discussions concerning the control or the lack of control by policyholders of mutual life insurance companies.1 While this is certainly not a new issue, there have been several recent developments. One recent development is a so-called "class action" suit brought in October 1972 against four large mutual life insurance companies in the United States District Court for the Southern District of New York.2 This antitrust suit was brought on behalf of three policyholders as representatives of a class consisting of all mutual life insurance policyholders. The complaint alleges, among other things, a conspiracy among defendant insurance companies to use outdated and antiquated mortality tables, to charge unreasonably high and redundant premium rates, and to create self-perpetuating management.