How 10 states are handling unclaimed property

April 1, 2013 by Robert D. Laurie, Chester R. Ostrowski

Life insurance companies continue to grapple with state regulators over efforts to collect unclaimed life insurance benefits under state unclaimed property laws (UPLs). Until recently, states have largely reserved the fight for the larger insurers with significant market-share within the industry and their efforts have culminated in settlements with, among others, AIG, MetLife, Prudential, John Hancock and Nationwide. With the taste of success, and the assistance of contingency-fueled independent audit firms, the states have taken their fight industry-wide, with mid-sized insurers now being subject to audit.  Click here to read…

Originally Posted at LifeHealthPro on March 29, 2013 by Robert D. Laurie, Chester R. Ostrowski.