September 13,2023Published Article

Law360 article, "Why It's Time To Regulate Plan Data As An Asset"


Black's Law Dictionary defines an asset, in part, as an item that has value.

In the benefits context, the funds used to pay for and provide benefits are clearly assets of the plan, as demonstrated by the robust legal landscape on the subject.

Likewise, the data that is given to insurers, record-keepers, third-party administrators and other similar stakeholders to provide contracted services and benefits clearly fits within this definition.

There is obvious value in this plan data if it could be, or perhaps already is, subject to sale or other revenue-generating uses. If plan data did not constitute a  plan asset, there would be no personal interest in obtaining it, using it and safeguarding it.

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