Mass. Reaches Landmark Life Insurance Settlement Agreement with Prudential
Targeted News Service |
Treasurer
"Our primary goal is to ensure that every individual in
The Prudential agreement, which requires the company to better cross-reference its policy database with public death records, arises out of audits that
"Because of this audit, thousands of
The Prudential agreement is the second of such settlements signed since Grossman took office. In March of last year, Grossman entered into a similar agreement with
The Prudential and John Hancock agreements represent significant milestones in the Commonwealth's multi-year effort to audit the U.S. life insurance industry for withheld funds and unclaimed property. Many other of the country's largest life insurance companies are also under similar audits, and it is expected that this latest agreement will serve as a further example for the rest of the life insurance industry to follow.
In addition to the unclaimed property identified by these audits, the Treasury also maintains a comprehensive list of approximately
TNS hc11-120114-JF78-3741543 StaffFurigay
Copyright: | (c) 2012 Targeted News Service |
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