Written by NACA Member Dennis J Wall
There is a mystique which has descended over insurance coverage claims like a shroud, poisoning the desire to advocate against what appears to be a mountain of majority case law on the other side. A recent decision exemplifies this mystique, while other recent decisions show ways that advocates have prevailed in convincing judges to apply the law in ways that majorities do not.
Groups oppose HR 3746, the Business of Insurance Regulatory Reform Act of 2017 which would limit the CFPB’s authority to enforce federal consumer financial protection laws against entities that are regulated by a state insurance regulator to the extent such person is engaged in the business of insurance. The bill could have wide-ranging impacts that infringe on the CFPB’s core authority to address problems with consumer financial products and services.