The insurance industry is changing on a regular basis, but none so much as the changes that were witnessed in 2015. With insurance offered online, the Affordable Care Act and a variety of new policies that have been enacted it’s hard to correctly predict the decisions of the Supreme Court regarding the rules and regulations that insurance companies must follow going forward. In five different cases this past year the Supreme Court ruled in ways that are helping to shape and mold the industry, but also turn it on its head.
Texas Dept. of Housing and Community Affairs vs Inclusive Communities Project, Inc. – these case raised concerns regarding fair housing for minority low income homeowners and the credits given to those who build these homes.
King vs Burwell – In this case the millions of Americans that used Healthcare.gov to sign up for health insurance were at risk of losing their tax subsidies; the result was retention of these benefits for those who used this site.
Fluor Corp vs Superior Court – The finding in this case was that an anti-assignment clause on a liability policy does not bar the coverage for post loss.
Hartford Casualty Insurance Co. vs J.R. Marketing LLC – The decision in this case was in regards to whether or not an insurance company can sue for direct fees from an independent counsel, which it was found they can do.
Travelers Property Casualty Co. of America et al. vs Federal Recovery Services – The decision in this case was made that Travelers did not have to defend Federal Recovery when they willfully withheld data due to a fitness company changing to a new data storage services company.
You need a risk management specialist to help you maneuver through many of these legal minefields. In most cases we can tailor insurance coverages to manage your risk.
For more information, call Matsen CEO, R. Glenn Matsen, directly on his personal extension at 916-306-5902.