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Coventry Responds to Lapetus's Secrecy Claims

Coventry First LLC, recognized as a market leader in life insurance settlements, has recently made headlines by filing a legal response against Lapetus Solutions, Inc. Their legal action comes as Lapetus attempts to prevent the public dissemination of mandated life expectancy audit reports. The debate centers around the crucial issue of transparency in life insurance estimations, which directly impacts both investors and consumers.

The Legal Maneuvering

On August 28, 2025, Coventry filed their legal response, making it clear that they oppose Lapetus's efforts to claim commercial secrecy over the reports dictated by law. According to Florida law, health service providers must submit triennial life expectancy audit reports to the state's Office of Insurance Regulation. These reports illustrate the accuracy of life expectancy predictions rather than revealing proprietary methods behind those predictions. Coventry firmly argues that Lapetus's claims to protect such reports under the guise of commercial secrecy are unfounded.

Coventry's legal representatives have also initiated their own motion for summary judgment. Their argument hinges on Lapetus’s impending shutdown, confirmed for August 31, 2025, indicating that after this date, the results of the audits will hold no commercial weight, thereby nullifying any claims to secrecy. Coventry cites that if Lapetus ceases all business operations, the audit results will no longer be relevant for competitive advantage, thus forfeiting the appropriate status for confidentiality.

Importance of Life Expectancy Estimates

The stakes associated with life expectancy figures extend far beyond this legal battle. These estimations form the foundation of life insurance valuations. Systematic inaccuracies in predicting life expectancy can mislead investors, resulting in significant financial losses and undermining market confidence. Coventry's executive chairman, Alan H. Buerger, vocalized this concern, referencing a study that showed Lapetus underperformed in accuracy in over 80% of cases compared to its industry counterparts. This revelation poses questions about the integrity of life expectancy assessments, which are critical for maintaining trust among investors and the general public.

In recent discussions, Buerger emphasized the necessity for transparency, stating that both investors and regulators must be assured of the reliability of life expectancy estimates. He argued that maintaining such transparency not only safeguards investors but also preserves the integrity of the life settlement market as a whole. As originators of the secondary market for life insurance, Coventry remains steadfast in its commitment to advocating for consumer rights and supporting stringent industry regulations.

A Lesson from History

Florida regulators have a historical precedent for their concern. The case involving the $800 million fraud orchestrated by Mutual Benefits — where an artificially short life expectancy systematically misled investors in one of the largest Ponzi schemes in the state's history — highlights the dangers of inaccurate life expectancy findings. Reacting to incidents like these, legislation was enacted to mandate that life expectancy service providers register and submit regular audit reports, ensuring accountability.

About Coventry

With over two decades of experience, Coventry stands out as the undisputed leader in the secondary life insurance market. The company has significantly shaped the sector, broadening opportunities for policyholders through its expertise and dedication to consumer rights. Up to this point, Coventry has delivered over $6 billion to policyholders who no longer require their insurance. Advocating for consumer interests while establishing high standards in the industry remains at the heart of Coventry’s mission. To learn more about Coventry, visit Coventry.com.