Items tagged with metlife escheat
May 23, 2012
New regulation requires insurers to implement reasonable procedures to identify unclaimed death benefits, locate beneficiaries, and make prompt payments. More to come on this… Link to the law here
Apr 27, 2012
Both houses of the New York legislature are currently working on two bills that will increase the unclaimed property compliance burdens on life insurance providers. Through A.B. 9845 and S.B. 6943, the state aims to tighten the requirements of lo...
Apr 25, 2012
According to this article – the amount “returned to consumers could actually total [more] than $667 million, with the industrial block of 708,000 policyholders resulting in at least $467 million to policyholders or beneficiaries…...
Apr 23, 2012
According to the Wall Street Journal: "MetLife Inc. has agreed to pay $40 million to settle a multistate regulatory probe, in a pact that calls for it to improve its system for identifying unclaimed life-insurance policies on its books. MetLi...