Washington, D.c. V. Greater Washington Board Of Trade
Legal decision in which the Supreme Court of the United States ruled that states cannot require employers to provide disabled employees the same health insurance with which they provide active employees. Regulation by states of employee benefit insurance plans is precluded when it relates in any way to employee benefit plans governed by the federal statute on pensions and benefits (EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 ERISA). The issue in this case was the relationship between WORKERS COMPENSATION INSURANCE (as required by the states for job-related illness or injuries incurred by the employee) and federally regulated health insurance provided by the company for actively at work employees. The Greater Washington Board of Trade challenged the Washington, D.C. law that required employers who provide health insurance for actively at-work employees to continue to offer equivalent health insurance coverage to disabled employees who are eligible for workers compensation insurance.
Popular Insurance Terms
Amount of required capital that the insurance company must maintain based on the inherent risks in the insurer's operations. These risks include asset depreciation risk, credit receivables ...
Property to be insured, or that is insured, which is located within the specific geographical region falling under the auspices of the fire department. ...
Loss of a key person due to death, disability, sickness, resignation, incarceration, or retirement. Because of the expertise of such an individual, there could be a loss of income, market ...
Exclusion of coverage in marine insurance if damage or destruction of property results from war, capture, or seizure. ...
Covers all employees of a business on a blanket basis with the maximum limit of coverage applied separately to each employee guilty of a crime. ...
Retirement plan under which benefits are fixed in advance by formula, and contributions vary. The defined benefit plan can be expressed in either of two ways: Fixed Dollars: Unit benefit ...
Quality of investments of insurance companies. State insurance regulators establish rules for company investments. Authorized investments vary, depending on whether a company is a life ...
Choice of beneficiary in which the death benefit of a life insurance policy is retained by the company to be paid as a series of installments of fixed dollar amounts per installment until ...
a large number of homogeneous exposures (in order for the deviation of actual losses from expected losses to approach zero, and thecreditability of the prediction to approach one). loss ...
Have a question or comment?
We're here to help.