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SUN LIFE ASSURANCE CO. v. WELLS FARGO BANK, N.A.

No. 20-2339, No. 20-2472.

44 F.4th 1024 (2022)

SUN LIFE ASSURANCE COMPANY OF CANADA, Plaintiff-Appellee, Cross-Appellant, v. WELLS FARGO BANK, N.A., as Securities Intermediary, Defendant-Appellant, Cross-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided August 17, 2022.

Attorney(s) appearing for the Case

Brian D. Burack , Corey Thomas Hickman , Joseph Michael Kelleher, V,   Michael J. Miller , Gregory J. Star , Daniel Paul Thiel , Charles J. Vinicombe , Cozen O'Connor, Philadelphia, PA, John Michael Moore , Drinker Biddle & Reath Llp, Philadelphia, PA, Daniel Arthur Cohen , Walden Macht & Haran LLP, New York, NY, for Plaintiff.

Daniel Arthur Cohen , Walden Macht & Haran LLP, New York, NY, Corey Thomas Hickman , Michael J. Miller , Cozen O'Connor, Chicago, IL, John Michael Moore , Drinker Biddle & Reath Llp, Philadelphia, PA, for Counter Defendant.

Timothy Robert Carwinski , Reed Smith LLP, Chicago, IL, Andrew James Dykens , Julius A Rousseau , Arent Fox LLP, New York, NY, for Defendant.

David Joel Chizewer , Roger Andrew Lewis , Goldberg Kohn Ltd., Chicago, IL, for Respondents.

Christopher John Drinkwine, Heyl Royster, Rockford, IL, Pro Se.

Before Easterbrook, Wood, and Hamilton, Circuit Judges.

This diversity action under Illinois law takes us to a corner of life insurance law dealing with insurable interests. For more than a century, courts in Illinois and across the country have tried to balance two general rules. First, the owner or buyer of a life insurance policy, at least at its inception, must have an insurable...

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