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Full-Text Articles in Insurance Law
Insurance, Maximilian A. Pock
Insurance, Maximilian A. Pock
Mercer Law Review
The Georgia Supreme Court and Georgia Court of Appeals have handed down over eighty insurance cases during this past survey year. A surprising number of these are cases of first impression. The Uninsured Motorist Act spawned about thirteen percent of the total volume of decided cases, a fact which is not surprising if one keeps in mind that the general litigation proneness of uninsured and underinsured legislation is a well-documented national phenomenon. It is estimated that one of five drivers in this country is uninsured. This can hardly be the case in Georgia. Yet, one must remember that even under …
John Hancock Mutual Life Insurance Co. V. Harris Trust & Savings Bank: Guaranteed Benefit Policy Exclusion Holds No Guarantee For Insurers From Erisa's Fiduciary Standards, Shane C. Deleon
Mercer Law Review
This case came before the Supreme Court of the United States to decide whether the fiduciary obligations of the Employee Retirement Income Security Act of 1974 ("ERISA") apply to an insurance company's annuity contracts, or whether they were within the guaranteed benefit policy exclusion. The defendant-petitioner, John Hancock Mutual Life Insurance Co. and the plaintiff-respondent, Harris Trust & Savings Bank, acting as trustee for a Sperry Rand Corp. Retirement Plan, were parties in a participating group annuity titled Group Annuity Contract No. 50 ("GAC50") In participating group annuity contracts, deposits made to secure retiree benefits are placed with the insurer's …