In a major setback for insurers, the 3rd U.S. Circuit Court of Appeals has revived a RICO suit against First Unum Life Insurance Co., finding that a lower court erred when it held that such a claim would interfere with state regulation of insurers.
“There is nothing of record in this case that suggests that the availability of RICO would disrupt the playing field in the state insurance regime beyond what was clearly intended by state law,” 3rd Circuit Judge Marjorie O. Rendell wrote in her 33-page opinion in Weiss v. First Unum Life Insurance Co.
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