It’s not often that the U.S. Supreme Court weighs in on insurance issues. That’s because the McCarran-Ferguson Act gives states the primary authority to regulate the business of insurance. So when the Supreme Court speaks on insurance, even in the context of a bankruptcy plan, it’s noteworthy for insurers. That’s why we begin with the Supreme Court’s Truck decision, which involved an asbestos personal injury trust and a long-standing bankruptcy rule that often muzzled insurers on a debtor’s reorganization plan, even though the insurer ultimately would be left holding the bag. In reversing that rule, the Court holds that a debtor’s insurer with financial responsibility for bankruptcy claims is a party in interest with a right to object.