May 30--DURHAM -- North Carolina has joined a settlement with a group of Metropolitan Life Insurance companies over allegations of life insurance improprieties, according to an announcement made Tuesday by the state's insurance commissioner.
A multi-state examination identified concerns with the adequacy of MetLife's procedures to ensure that life insurance benefits are paid out to beneficiaries in a timely manner, according to the announcement by Commissioner Wayne Goodwin.
According to a news release from the National Association of Insurance Commissioners, the settlement followed a multi-state investigation coordinated through the association.
North Carolina stands to receive approximately $958,982 of the $40 million settlement being paid to participating states, the release states.
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