UNDER ERISA AN INSURANCE COMPANY’S FIDUCIARY DUTIES INCLUDE DISCLOSING MATERIAL INFORMATION TO ITS CLAIMANTS, WHETHER REGARDING LONG-TERM DISABILITY OR HEALTH BENEFITS

As explored in the blog last week, an insurance company, typically the party obligated to pay benefits and the administrator given discretion in construing and applying the provisions of a group health or disability plan and assessing a participant’s entitlement to benefits, is an ERISA fiduciary. However, an insurance company’s duties as an ERISA fiduciary are not confined to reviewing and gathering evidence under a duty of loyalty to its long-term disability or health insurance claimant, Continue reading “UNDER ERISA AN INSURANCE COMPANY’S FIDUCIARY DUTIES INCLUDE DISCLOSING MATERIAL INFORMATION TO ITS CLAIMANTS, WHETHER REGARDING LONG-TERM DISABILITY OR HEALTH BENEFITS”

UNDER ERISA THE DEFERENCE AN INSURANCE COMPANY’S DECISION IS AFFORDED IS TIED TO HOW WELL IT COMPLIES WITH ITS OBLIGATIONS AS A FIDUCIARY

An insurance company, typically the party obligated to pay benefits and the administrator given discretion in construing and applying the provisions of a group health or disability plan and assessing a participant’s entitlement to benefits, is an ERISA fiduciary. See 29 U.S.C.§ 1002(21)(A)(i) and (iii); Aetna Health Inc. v. Davila, 542 U.S. 200, 220, 124 S. Ct. 2488, 2502 (2004); Mondry v. Am. Fam. Continue reading “UNDER ERISA THE DEFERENCE AN INSURANCE COMPANY’S DECISION IS AFFORDED IS TIED TO HOW WELL IT COMPLIES WITH ITS OBLIGATIONS AS A FIDUCIARY”