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Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
Delay, Deny, Defend is a critical exploration of the property and casualty insurance industry, examining how its practices affect policyholders.Feinman, a law professor specializing in consumer rights and insurance law, argues that the industry prioritizes profits over policyholders' needs, often using tactics like delaying or denying legitimate claims to bolster financial performance.
An insurance-linked security (ILS) is a financial instrument whose value is driven by insurance loss events. Those such instruments that are linked to property losses due to natural catastrophes represent a unique asset class , the return from which is uncorrelated with that of the general financial market .
In short, while life insurance fraud can be elaborate and involve various tactics, the industry has developed multiple layers of defense to maintain fairness and protect against exploitation ...
The American Council of Life Insurers (ACLI) is the leading trade association driving public policy and advocacy on behalf of the life insurance industry. Based in Washington, D.C. , ACLI advocates on behalf of 275 member companies whose products and services help 90 million American families achieve financial security.
In July 1998, an anonymous French whistle-blower told the California Insurance Department that Crédit Lyonnais was the real buyer of the insurance company and controlled it through secret agreements. In early 1999, the California Insurance Department sued the bank and other parties, alleging fraud and seeking $2 billion in restitution. [4]
Insurance companies themselves, as well as self-insuring employers, purchase stop-loss coverage for a premium to protect themselves. [1] In the case of a participant reaching more than the specific (or "individual") stop-loss deductible ($300,000, for example), the insurer will reimburse the insured (the company, not the participant) for the remainder of the claim to be paid over that ...
McGee v. International Life Insurance Co., 355 U.S. 220 (1957), was a case following in the line of decisions interpreting International Shoe v.Washington. [1] The Court declared that California did not violate the due process clause by entering a judgment upon a Texas insurance company who was engaged in a dispute over a policy it maintained with a California resident.