TORONTO, Sept. 9, 2013 /CNW/ – Merchant Law Group LLP has launched Canada-wide class action litigation today against Manulife Financial, Benesure, and Davis + Henderson seeking financial compensation for all Canadians who paid for “Mortgage Protection Plan” or “Credit Security Plan” related products.
Lawyer Tony Merchant Q.C. explained one of the key allegations that will be asserted through this class action litigation: “People thought they were getting a valuable type of insurance but our litigation contends they were both being overcharged and not getting the insurance protection they thought they were buying. When people tried to use the alleged insurance, they were systematically denied coverage based on what insiders indicate was a pre-planned scheme coordinated to deny claims. Canadians who were manipulated into buying these products were often paying an extra fee of $50 or more per month on top of their monthly mortgage payment but were not receiving the protection or coverage being promoted.”
In October 2012, when Manulife Financial announced it was purchasing Benesure Canada Inc., Manulife indicated: “With the announcement of this transaction, Manulife Affinity Markets becomes Canada’s largest provider of creditor insurance solutions for mortgage brokers, currently earning premiums in excess of $65 million from more than 170,000 Benesure Canada Inc. clients.”
In January 2013, Manulife Financial announced it had fully completed its acquisition of Benesure Canada Inc.
Merchant Law Group LLP is a leading Canadian class action firm with 12 offices across Canada. Merchant Law Group LLP is well known for its involvement in mass tort and class action cases in Canada including Residential Schools, Cellular System Access Fees, Hollinger, Maple Leaf Foods, Toyota, Vioxx, and various other cases.