Reinsurer, Plan Administrator Settle Breach Of Fiduciary Duty, Reinsurance Dispute

Mealey's (May 20, 2021, 9:17 AM EDT) -- STATESVILLE, N.C. — A reinsurer and a third-party health insurance administrator on May 7 notified a North Carolina federal court that they have reached a settlement resolving a dispute over whether the third-party health insurance administrator breached its fiduciary duties under the Employee Retirement Income Security Act by failing to process and pay a health plan participant’s expenses when the expenses could not be claimed under a reinsurance policy....