Insurers Win Reversal Of Texas Stop-Loss Classification

By Christie Smythe

Law360, New York (December 17, 2009, 4:50 PM ET) -- Handing a win to American National Insurance Co., a Texas appeals court has rejected the state insurance department’s classification of backstop insurance for self-funded employer benefit plans, allowing the products to be considered “reinsurance” rather than “direct insurance” and thus exempt from state regulation.

The Texas Court of Appeals, Third District, issued the opinion Wednesday reversing findings by a lower court and ruling in favor of American National and affiliate American National Life Insurance Co. of Texas, which had challenged the department’s classification of the so-called...
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