The Death Of The Discretionary Clause?

Law360, New York (November 20, 2009, 11:17 AM EST) -- On Tuesday, Oct. 27, 2009, the Ninth Circuit Court of Appeals issued its opinion in Standard Insurance Co. v. Morrison, __ F.3d __, 2009 WL 3429501, holding that state Department of Insurance efforts to prohibit discretionary clauses in disability policies are not preempted by the Employment Retirement Income Security Act.

As the reader of this probably knows, the National Association of Insurance Commissioners has attempted for several years to eliminate discretionary clauses in ERISA policies, and numerous states have followed the NAIC’s lead and disapproved discretionary...
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