Filed Under:Your Practice, Regulatory

New York Life settles with 6 states

The unclaimed property saga continues

New York Life Insurance Co. (NY Life) has agreed to pay $15 million to state insurance regulators in a deal that resolves all state regulatory and comptroller/unclaimed property agency enforcement actions dealing with the company's unclaimed property practices.

The action, coming on the heels of a June 2013 settlement that NY Life and 10 other insurers reached with a group led by California Controller John Chiang of California and his colleagues, means that the likely next step in the ongoing saga of the unclaimed property probes is a model law drafted by the National Association of Insurance Commissioners (NAIC) that will provide guidance to all insurers going forward.

Featured Video

Most Recent Videos

Prospects not listening to voice mail? Arrange a phone date


Redesigning your phone life is more important than finding the “best words” for a voice mail in today’s culture.

Behind the scenes with Vicki Gunvalson [VIDEO]


In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI


Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's


An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Related resources

More Resources


Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.