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11. Subsequent Events
6 Months Ended
Jun. 30, 2012
Notes to Financial Statements  
Subsequent Events

 

11. Subsequent Events

 

On August 2, 2012, the Company and its parent, Phoenix Life, and ultimate parent, PNX, were named in a lawsuit brought by Lima LS PLC. The suit alleges that the Company sold policies knowing that the policies would ultimately be owned by investors and then challenging the validity of these policies or denying claims submitted on same. The suit names certain current and former executive officers in addition to the corporate defendants. The Company intends to defend against these claims vigorously. The outcome of this case and any potential losses are uncertain.