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Employee Retirement Income Security Act (ERISA) Fiduciary Duty Insurance Industry

Stinson - Benefits Notes Blog

DOL Settlements Remind Employers to Avoid Collecting Premiums Until Evidence of Insurability is Approved

The U.S. Department of Labor (DOL) announced two settlements with major insurance companies this month that highlight the importance of employers avoiding the collection of group life insurance premiums from employees until...more

Saul Ewing LLP

The Friday Five: Five ERISA Litigation Highlights - June 2024

Saul Ewing LLP on

This month’s Friday Five explores recent decisions with issues spanning physician power of attorney to preexisting exclusions and the fiduciary duty of an insurance company....more

Bricker Graydon LLP

Pension Risk Transfer Considerations and Recent Litigation - A Case of Imprudent “Passing the Buck” or Sound Risk Management?

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Over the last several years, numerous large pension plan sponsors have transferred billions of dollars in financial risk related to their pension plan benefit obligations to insurance companies through the purchase of group...more

McDermott Will & Emery

Special Report - Funding Employer-Sponsored Group Health Coverage: The Group Captive Solution - November 2023

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Employer-sponsored health insurance covers almost 159 million non-elderly US workers and their dependents, and employees and jobseekers alike view group health coverage as the single most important non-cash job-related...more

Saul Ewing LLP

The Friday Five: Five Current ERISA Litigation Highlights - February 2023

Saul Ewing LLP on

This month’s Friday Five covers cases relating to potential impacts of COVID-19, full and fair review of the claim file, an attempt to use an insurer’s internal policy against itself, and a “second bite at the apple” by...more

Saul Ewing LLP

The Friday Five: Five Current ERISA Litigation Highlights - August 2022

Saul Ewing LLP on

This month’s Friday Five addresses cases considering: (1) whether monetary relief in the amount of lost benefits is an available remedy for breach of fiduciary duty; (2) the validity of an ex-spouse’s beneficiary designation...more

McDermott Will & Emery

Department of Labor Exemption Impacts Investment Advice Fiduciaries

McDermott Will & Emery on

The US Department of Labor (DOL) recently issued guidance concerning a new exemption under the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA) in connection with the provision...more

K&L Gates LLP

Recent District Court Decision Highlights the Importance of Adequate Behavioral Health Claims Processing Guidelines for ERISA...

K&L Gates LLP on

On this week’s episode, Carla DewBerry and Sarah Carlins discuss a recent California Federal District Court decision in David Wit v. United Behavioral Health, in which the court found that the defendant insurer violated ERISA...more

Eversheds Sutherland (US) LLP

The emerging patchwork of fiduciary investment advice regulation – Putting the pieces together (update)

As anticipated, 2020 has seen a number of fiduciary and best interest advice regulations advance at both the federal and state levels. Firms subject to these regulations face challenges in dealing with rules that impose a...more

Eversheds Sutherland (US) LLP

The emerging patchwork of fiduciary investment advice regulation – Putting the pieces together (update)

By all accounts, 2019 will see a number of fiduciary and best interest investment advice regulations advance at both the federal and state levels. Firms subject to these regulations will face challenges in dealing with rules...more

Eversheds Sutherland (US) LLP

The emerging patchwork of fiduciary investment advice regulation – Putting the pieces together

By all accounts, 2019 will see the advancement of a number of fiduciary and best interest investment advice regulations at both the federal and state levels. Firms subject to these regulations will face challenges in dealing...more

Holland & Knight LLP

Tenth Circuit Upholds Great-West Stable Value Win in ERISA Case - Finds That Great-West Not a Fiduciary or Liable as a...

Holland & Knight LLP on

• The U.S. Court of Appeals for the Tenth Circuit affirms a District Court's holding that Great-West Life & Annuity Insurance Co. was not a fiduciary with respect to its stable value fund, even though it announced the fund's...more

Proskauer - Employee Benefits & Executive...

Clawbacks: Recent Litigation Targeting Insurers and Pharmacy Benefit Managers

While the term “co-pay” might suggest a sharing of costs between patients and their health plans, a recent study by the University of Southern California Schaeffer Center found that almost a quarter of patients are paying...more

Carlton Fields

Fifth Circuit Vacates DOL Fiduciary Rule

Carlton Fields on

On March 15, the Fifth Circuit, in Chamber of Commerce, et. al. v. United States Department of Labor, a 46-page opinion, reversed the district court’s ruling upholding the Department of Labor (DOL) fiduciary rule and vacated...more

Saul Ewing LLP

The Friday Five: Five Current ERISA Litigation Highlights - February 2018

Saul Ewing LLP on

ERISA cases related to life insurance policies and related benefits were the focus of a number of reported decisions at the end of 2017 and continuing into the new year. This month’s issue of The Friday Five highlights four...more

Carlton Fields

Did Santa Give the Insurance Industry a Lump of Coal or a Diamond in the Rough? The Proposed Suitability and Best Interest...

Carlton Fields on

As reported in our November 28 client alert, the National Association of Insurance Commissioners’ (NAIC) Annuity Suitability Working Group (Suitability WG) circulated the proposed Suitability and Best Interest Standard of...more

Carlton Fields

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation Q&A #4 - Q&As on Annuity Sales Practices,...

Carlton Fields on

For the past several months, we have written about potential litigation issues under the “revised temporary” DOL Rule involving the offer and sale of annuities in the IRA market. This article continues that discussion. ...more

Carlton Fields

The DOL Fiduciary Rule: Charting A Course, Avoiding Collisions & Potential Litigation Q&A #4 - Q&As on Annuity Sales Practices,...

Carlton Fields on

For the past several months, we have written about potential litigation issues under the “revised temporary” DOL Rule involving the offer and sale of annuities in the IRA market. This article continues that discussion. Recall...more

McGuireWoods LLP

Recent Cases of Interest to Fiduciaries

McGuireWoods LLP on

In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following: ...more

Carlton Fields

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation Q&A #2 - Q&As on Annuity Sales Practices,...

Carlton Fields on

Last month, we wrote about potential litigation issues under the “revised temporary” DOL Rule involving the offer and sale of annuities in the IRA market. This paper continues that discussion. I emphasize to the reader that...more

Carlton Fields

The Fiduciary Rule Status Update

Carlton Fields on

On April 8, the Department of Labor published the so-called "Fiduciary Rule." It defines who is an employee benefit plan’s "fiduciary" for purposes of the Employee Retirement Income Security Act (ERISA) and the Internal...more

Carlton Fields

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation Q&A #3 - Q&As on Annuity Sales Practices,...

Carlton Fields on

For the past two months, we have written about potential litigation issues under the “revised temporary” DOL Rule involving the offer and sale of annuities in the IRA market. We continue that discussion here. As in the past,...more

Carlton Fields

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation - Q&A on IRA Transactions

Carlton Fields on

Previously, I wrote about potential litigation under the Department of Labor’s then proposed fiduciary rule (see Expect Focus, Vol. II, 2015). I predicted the following as to sales of index annuities to IRAs if the rule was...more

Dickinson Wright

Company Liable for Not Providing Accurate Information about Benefits

Dickinson Wright on

A recent court case, Erwood vs Life Insurance Company of North America, is a reminder that plan sponsors must understand the terms of their welfare and retirement benefit plans, and ensure that their staff follows the...more

Seyfarth Shaw LLP

Does the Fiduciary Exception Apply to Legal Advice Received By Insurers During the Claims Process

Seyfarth Shaw LLP on

Seyfarth Synopsis: Adding to the body of conflicting authority on the scope of the attorney-client privilege in ERISA lawsuits, a district court has found that the fiduciary exception to attorney-client privilege applies to...more

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