Class action suits have weakened state regulation, ACLI tells Congress. (D.C. Dispatch).(American Council of Life Insurers)(Brief Article)

National Underwriter Life & Health-Financial Services Edition, August, 2002 by Brostoff, Steven

Class action lawsuits have steadily weakened the very fabric of state regulation of insurance, says the American Council of Life Insurers, Washington.

ACLI says the life insurance industry has experienced more than a decade of abusive class actions.

In a letter to Sen. Orrin Hatch, R-Utah, in connection with a Senate Judiciary Committee hearing on class action abuse, ACLI says decisions by state judges have national implications for insurers in other states.

The letter was signed by Phil Anderson, senior vice president of government relations, and Kimberly Olson Dorgan, vice president of federal relations.

The letter cites a pending class action in New Mexico as an example of how state regulation might be affected by a single...

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