Insurance is very highly regulated. It falls under federal rules for both financial industries and health, so it is subject to both Gramm-Leach-Bliley and HIPAA.
And when the actuarials decide some benefit is costing the company too much, they send the policy to legal who reinterprets the language and then the entire claims department gets retrained on how to pay the benefit correctly and informed we have been doing it wrong for the past 20 years.
So, ha ha yourself. They have an in-house legal department to justify whatever the heck they plan to do anyway. They just want all their ducks in a row from the start. The lawyers basically get paid to get the company's story straight ahead of time. It's quite mind-boggling that insurance is even legal as an industry.
And when the actuarials decide some benefit is costing the company too much, they send the policy to legal who reinterprets the language and then the entire claims department gets retrained on how to pay the benefit correctly and informed we have been doing it wrong for the past 20 years.
So, ha ha yourself. They have an in-house legal department to justify whatever the heck they plan to do anyway. They just want all their ducks in a row from the start. The lawyers basically get paid to get the company's story straight ahead of time. It's quite mind-boggling that insurance is even legal as an industry.