Discovery Deadlines Extended in Md. Federal Banner Life Reinsurance Fraud Case

BALTIMORE — A Maryland federal judge has extended the discovery deadlines by 16 days in a case accusing Banner Life Insurance Co. of shifting its debt to offshore reinsurers in order to hide its “questionable” solvency.

In an April 19 order, Judge A. David Copperthite of the U.S. District Court for the District of Maryland set a June 8 deadline for Rule 26e(2) supplementation of disclosures and responses, and a June 27 discovery deadline.

Plaintiffs purchased universal life insurance policies from Banner Life Insurance Co. in 2002. The policies provided a $300,000 death benefit and no lapse guarantee in exchange …