Filed Under:Markets, Gen X Y

Unclaimed property class action lawsuit dismissed

Massachusetts district court judge Joseph Tauro sides with insurance companies over unclaimed property.
Massachusetts district court judge Joseph Tauro sides with insurance companies over unclaimed property.

A federal district court judge in Massachusetts has called into question the very basis for the aggressive efforts of states to collect the unclaimed proceeds of life insurance policies.

In a decision handed down Tuesday, Judge Joseph Tauro said that Massachusetts and Illinois allow insurance companies to require a beneficiary to furnish proof of death before paying policy proceeds.  

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Nichole Morford

Nichole Morford
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