Insurers Can Be Sued Directly Under ERISA: 9th Circ.

Law360, New York (June 22, 2011, 6:49 PM EDT) -- An en banc panel of the Ninth Circuit ruled Wednesday that insurers — not just plan administrators — can be sued for retiree benefits under the Employee Retirement Income Security Act.

Reversing its past rulings on the issue, the appeals court said there was no legal basis in the statute or U.S. Supreme Court precedent to stop aggrieved retirees from going after the insurers that often bankroll company-run retirement plans.

“We overrule our previous decisions to the contrary,” the Ninth Circuit said. “An entity other than...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.